Rent-A-Center
American furniture and electronics rent-to-own company / From Wikipedia, the free encyclopedia
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Rent-A-Center (commonly referred to as RAC) is an American public furniture and electronics rent-to-own company based in Plano, Texas.[3] The company was incorporated in 1986 and as of 2014 operates approximately 2,972 company-owned stores in the United States, Puerto Rico and Mexico, accounting for approximately 35% of the rent-to-own market in the United States based on store count.[4][3]
Company type | Public |
---|---|
Nasdaq: UPBD S&P 600 component | |
Industry | Home furnishings Rent-to-own |
Founded | 1973; 51 years ago (1973) 1986 (1986) (incorporated) Wichita, Kansas, U.S. |
Headquarters | , U.S. |
Key people | Mitchell Fadel Chief Executive Officer (CEO) Fahmi Karam Chief Financial Officer (CFO) Ann Davids Chief Marketing Officer, Chief Customer Officer (CMO, CCO) Sudeep Gautam Chief Technical & Digital Officer (CTO, CDO) [1] |
Products | Provides furniture, electronics, computers and household appliances available under rent-to-own agreements |
Revenue | US$2.6 billion (2019)[2] |
US$193 million (2019)[2] | |
US$125 million (2019)[2] | |
Total assets | US$1.58 billion (2019)[2] |
Total equity | US$459 million (2019)[2] |
Number of employees | 14,500 (2020) |
Subsidiaries | Rent-A-Center Franchising International |
Website | www.rentacenter.com |
Rent-A-Center's operations include 24 retail installment stores called Get It Now (based in Wisconsin);[5] 17 Home Choice stores in Minnesota; and approximately 1,359 Acceptance Now kiosks housed within retail partner stores throughout the United States.[6] Its subsidiary, Rent-A-Center Franchising International Inc. (RACFI), formerly known as ColorTyme Inc., is America's first franchisor of independently owned-and-operated rent-to-own stores. Its franchisees operate 162 rent-to-own stores in 31 states under the Rent-A-Center and ColorTyme brand names, and the company's wheels-and-tires franchise brand, RimTyme, operates 31 stores in 13 states.[3][7][8]
In 2014, Fortune Magazine listed Rent-A-Center at number 711 on the Fortune 1000 list of the largest U.S. corporations, based on revenues alone.[9]
On February 22, 2023, the company changed its corporate name from Rent-A-Center, Inc. to Upbound Group, Inc. The new stock market ticker is UPBD.