Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - RENT A CENTER INC DE | d77252e8vk.htm |
| EX-99.2 - EX-99.2 - RENT A CENTER INC DE | d77252exv99w2.htm |
Exhibit 99.1
For Immediate Release:
RENT-A-CENTER ANNOUNCES INCREASED
AUTHORIZATION OF STOCK REPURCHASES
AUTHORIZATION OF STOCK REPURCHASES
PLANO, Texas, October 27, 2010 — Rent-A-Center, Inc. (the “Company”) (NASDAQ/NGS: RCII) today
announced that its Board of Directors has increased the authorization for stock repurchases under
the Company’s common stock repurchase plan from $600 million to $800 million. Under the Company’s
common stock repurchase plan, shares may, from time to time, be repurchased in the open market or
in privately negotiated transactions at amounts considered appropriate by the Company. To date, the
Company has repurchased a total of 22,066,352 shares of the Company’s common stock for an aggregate
purchase price of approximately $512.5 million since the repurchase plan’s inception. In the
current year, the Company has repurchased a total of 2,181,502 shares for approximately $45.9
million in cash.
Rent-A-Center, Inc., headquartered in Plano, Texas, currently operates approximately 3,000
company-owned stores nationwide and in Canada and Puerto Rico. The stores generally offer
high-quality, durable goods such as major consumer electronics, appliances, computers and furniture
and accessories under flexible rental purchase agreements that generally allow the customer to
obtain ownership of the merchandise at the conclusion of an agreed upon rental period. ColorTyme,
Inc., a wholly owned subsidiary of the Company, is a national franchiser of approximately 200
rent-to-own stores operating under the trade name of “ColorTyme.”
Contact for Rent-A-Center, Inc.:
David E. Carpenter
Vice President of Investor Relations
(972) 801-1214
david.carpenter@rentacenter.com
Vice President of Investor Relations
(972) 801-1214
david.carpenter@rentacenter.com