Exhibit 99.1

For Immediate Release:

RENT-A-CENTER, INC. REPORTS
SECOND QUARTER 2011 RESULTS

Total Revenues Increased 4.0%

Diluted Earnings per Share of $0.63 in the 2^nd Quarter, Including a Restructuring Charge
of $0.05 per Diluted Share Related to the Acquisition of The Rental Store

Repurchased 2.1 Million Shares of Common Stock

Plano, Texas, July 25, 2011 — Rent-A-Center, Inc. (the “Company”) (NASDAQ/NGS: RCII), the nation’s largest rent-to-own operator, today announced revenues and earnings for the quarter ended June 30, 2011.

Second Quarter 2011 Results

Total revenues for the quarter ended June 30, 2011, were $698.3 million, an increase of $26.8 million from total revenues of $671.5 million for the same period in the prior year. This 4.0% increase in total revenues was primarily due to an increase in revenue driven by the RAC Acceptance business, offset by a reduction in revenue due to the discontinuation of the financial services business. Same store sales for the three months ended June 30, 2011, decreased 0.3%.

Net earnings and net earnings per diluted share for the three months ended June 30, 2011, were $39.9 million and $0.63, respectively, as compared to $47.8 million and $0.72, respectively, for the same period in the prior year. Net earnings and net earnings per diluted share for the three months ended June 30, 2011, were reduced by $4.9 million, and approximately $0.05 per share, respectively, due to a pre-tax restructuring charge related to the acquisition of The Rental Store, Inc. as discussed below.

When excluding the pre-tax restructuring charge above, adjusted net earnings per diluted share for the three months ended June 30, 2011, were $0.68, as compared to net earnings per diluted share for the three months ended June 30, 2010, of $0.72. These results include approximately $0.06 per share dilution related to the Company’s growth initiatives.

“Our results for the quarter for our total revenues and earnings were within our expectations,” said Mark E. Speese, the Company’s Chairman and Chief Executive Officer. “Our core rent-to-own customer demand outperformed the comparable period in 2010 even though our customers remain financially constrained by higher fuel and food prices,” Speese added. “The revenue from our growth initiatives continues to perform well with RAC Acceptance contributing close to 6% of our total store revenue. We believe our investment in these growth initiatives will provide both revenue and earnings growth in the future,” Speese continued. “With our strong cash flow generation, we continue to return value to our stockholders with the repurchase of 2.1 million shares of our common stock in the quarter and an increase in our quarterly cash dividend to $0.16 per share beginning in the third quarter,” Speese concluded.

Six Months Ended June 30, 2011 Results

Total revenues for the six months ended June 30, 2011, were $1.440 billion, an increase of $50.0 million from total revenues of $1.390 billion for the same period in the prior year. This 3.6% increase in total revenues was primarily due to an increase in revenue driven by the RAC Acceptance business, offset by a reduction in revenue due to the discontinuation of the financial services business. Same store sales for the six months ended June 30, 2011, decreased 0.1%.

Net earnings and net earnings per diluted share for the six months ended June 30, 2011, were $84.1 million and $1.32, respectively, as compared to $99.3 million and $1.49, respectively, for the same period in the prior year.

Net earnings and net earnings per diluted share for the six months ended June 30, 2011, were impacted by the following significant items, as discussed below:

	•		A $4.9 million pre-tax restructuring charge, or approximately $0.05 per share, related to the acquisition of The Rental Store, Inc.;
	•		A $7.3 million pre-tax impairment charge, or approximately $0.07 per share, related to the discontinuation of the financial services business; and
	•		A $2.8 million pre-tax litigation expense, or approximately $0.03 per share, related to the prospective settlement of wage and hour claims in California.

Collectively, these items reduced net earnings per diluted share by approximately $0.15 for the six months ended June 30, 2011.

When excluding the items above, adjusted net earnings per diluted share for the six months ended June 30, 2011, were $1.47, as compared to net earnings per diluted share for the six months ended June 30, 2010, of $1.49.

Through the six month period ended June 30, 2011, the Company generated cash flow from operations of approximately $171.2 million, while ending the quarter with approximately $74.0 million of cash on hand. During the six month period ended June 30, 2011, the Company repurchased 2,938,702 shares of its common stock for approximately $92.7 million in cash under its common stock repurchase program. To date, the Company has repurchased a total of 26,409,047 shares and has utilized approximately $644.0 million of the $800.0 million authorized by its Board of Directors since the inception of the plan. Also, reflecting the confidence in its strong cash flows, the Company announced on May 12, 2011, that its Board of Directors approved a 167% increase in its quarterly cash dividend from $0.06 per share to $0.16 per share, beginning with the dividend for the third quarter of 2011.

In addition, on July 14, 2011, the Company announced the completion of the refinancing of its senior credit facility. The new $750 million senior credit facility consists of $250 million in term loans and a $500 million revolving credit facility. Based on the Company’s present consolidated leverage ratio, the Company expects an approximate 100 basis point improvement in interest rates on the new credit facility as compared to the prior facility. The facility will mature in July 2016.

2011 Significant Items

Restructuring Charge. During the second quarter of 2011, the Company recorded a pre-tax restructuring charge of approximately $4.9 million in connection with the December 2010 acquisition of The Rental Store, Inc. This charge relates to post-acquisition lease terminations. This pre-tax restructuring charge of $4.9 million reduced net earnings per diluted share by approximately $0.05 in both the three month and six month periods ended June 30, 2011.

Financial Services Charge. As previously reported, the Company recorded an $18.9 million pre-tax impairment charge during the fourth quarter of 2010 related to the discontinuation of the financial services business. The charge with respect to discontinuing the operations of all 331 store locations related primarily to fixed asset disposals, goodwill impairment, loan write-downs, and other miscellaneous items. During the first quarter of 2011, the Company recorded an additional pre-tax impairment charge of $7.3 million related primarily to loan write-downs, fixed asset disposals (store reconstruction), and other miscellaneous items. For the six months ended June 30, 2011, this pre-tax impairment charge of $7.3 million reduced net earnings per diluted share by approximately $0.07.

Settlement of Wage & Hour Claims in California. As previously reported, the Company recorded a $2.8 million pre-tax litigation expense during the first quarter of 2011 in connection with the settlement of certain putative class actions pending in California alleging various claims, including violations of California wage and hour laws. For the six months ended June 30, 2011, this pre-tax litigation expense of $2.8 million reduced net earnings per diluted share by approximately $0.03.

- - -

Rent-A-Center, Inc. will host a conference call to discuss the second quarter results, guidance and other operational matters on Tuesday morning, July 26, 2011, at 10:45 a.m. EDT. For a live webcast of the call, visit http://investor.rentacenter.com. Certain financial and other statistical information that will be discussed during the conference call will also be provided on the same website.

Rent-A-Center, Inc., headquartered in Plano, Texas, currently operates approximately 3,020 company-owned stores nationwide and in Canada, Mexico 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 210 rent-to-own stores operating under the trade name of “ColorTyme.”

The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. These statements do not include the potential impact of any repurchases of common stock the Company may make, changes in outstanding indebtedness, or the potential impact of acquisitions or dispositions that may be completed after July 25, 2011.

THIRD QUARTER 2011 GUIDANCE:

Revenues

•		The Company expects total revenues to be in the range of $691 million to $706 million.
•		Store rental and fee revenues are expected to be between $612 million and $624 million.
•		Total store revenues are expected to be in the range of $683 million to $698 million.
•		Same store sales are expected to be in the range of 0.5% to 1.5%.
•		The Company expects to open approximately 20 domestic rent-to-own store locations.
•		The Company expects to open 85 to 110 domestic RAC Acceptance kiosks.
•		The Company expects to open approximately 10 rent-to-own store locations in Mexico.
•		The Company expects to open approximately 5 rent-to-own store locations in Canada.

Expenses

•		The Company expects cost of rental and fees to be between 22.9% and 23.3% of store rental and fee revenue and cost of merchandise sold to be between 74.0% and 78.0% of store merchandise sales.
•		Store salaries and other expenses are expected to be in the range of 57.9% to 59.4% of total store revenue.
•		General and administrative expenses are expected to be approximately 4.7% of total revenue.
•		Net interest expense is expected to be approximately $8 million and depreciation of property assets is expected to be approximately $16 million.
•		The effective tax rate is expected to be in the range of 37.5% to 38.0% of pre-tax income.
•		Diluted earnings per share are estimated to be in the range of $0.55 to $0.61.
•		Diluted shares outstanding are estimated to be between 63 million and 64 million.

FISCAL 2011 GUIDANCE:

Revenues

•		The Company expects total revenues to be in the range of $2.868 billion and $2.908 billion.
•		Store rental and fee revenues are expected to be between $2.477 billion and $2.517 billion.
•		Total store revenues are expected to be in the range of $2.835 billion and $2.875 billion.
•		Same store sales are expected to be in the range of 1.0% to 2.0%.
•		The Company expects to open approximately 40 domestic rent-to-own store locations.
•		The Company expects to open 350 to 375 domestic RAC Acceptance kiosks.
•		The Company expects to open 40 to 55 rent-to-own store locations in Mexico.
•		The Company expects to open 10 to 20 rent-to-own store locations in Canada.

Expenses

•		The Company expects cost of rental and fees to be between 22.8% and 23.2% of store rental and fee revenue and cost of merchandise sold to be between 73.5% and 77.5% of store merchandise sales.
•		Store salaries and other expenses are expected to be in the range of 55.5% to 57.0% of total store revenue.
•		General and administrative expenses are expected to be approximately 4.6% of total revenue.
•		Net interest expense is expected to be approximately $34 million and depreciation of property assets is expected to be in the range of $63 million to $66 million.
•		The effective tax rate is expected to be in the range of 37.5% to 38.0% of pre-tax income.
•		Diluted earnings per share are estimated to be in the range of $2.85 to $3.00.
•		Diluted shares outstanding are estimated to be between 63 million and 64 million.

Store Activity

		Domestic												International
						RAC				Get It Now/
		RTO				Acceptance				Home Choice				Canada				Mexico
Three Months Ended June 30, 2011
Stores at beginning of period			2,949				482				41				18				10
New store openings			7				130				—				—				5
Acquired stores remaining open			—				3				—				—				—
Closed stores
Merged with existing stores			6				—				—				—				—
Sold or closed with no surviving store			2				4				—				—				—
Stores at end of period			2,948				611				41				18				15
Acquired stores closed and accounts merged with existing stores			4				—				—				—				—

		Domestic												International
						RAC				Get It Now/
		RTO				Acceptance				Home Choice				Canada				Mexico
Six Months Ended June 30, 2011
Stores at beginning of period			2,943				384				42				18				5
New store openings			15				239				—				—				10
Acquired stores remaining open			—				3				—				—				—
Closed stores
Merged with existing stores			8				6				—				—				—
Sold or closed with no surviving store			2				9				1				—				—
Stores at end of period			2,948				611				41				18				15
Acquired stores closed and accounts merged with existing stores			6				—				—				—				—

This press release and the guidance above contain forward-looking statements that involve risks and uncertainties. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “could,” “estimate,” “should,” “anticipate,” or “believe,” or the negative thereof or variations thereon or similar terminology. Although the Company believes that the expectations reflected in such forward-looking statements will prove to be correct, the Company can give no assurance that such expectations will prove to have been correct. The actual future performance of the Company could differ materially from such statements. Factors that could cause or contribute to such differences include, but are not limited to: uncertainties regarding the ability to open new rent-to-own stores; the Company’s ability to acquire additional rent-to-own stores or customer accounts on favorable terms; the Company’s ability to control costs and increase profitability; the Company’s ability to enhance the performance of acquired stores; the Company’s ability to retain the revenue associated with acquired customer accounts; the Company’s ability to identify and successfully market products and services that appeal to its customer demographic; the Company’s ability to enter into new and collect on its rental purchase agreements; the passage of legislation adversely affecting the rent-to-own industry; the Company’s failure to comply with statutes or regulations governing the rent-to-own or financial services industries; interest rates; changes in the unemployment rate; economic pressures, such as high fuel costs, affecting the disposable income available to the Company’s targeted consumers; conditions affecting consumer spending and the impact, depth, and duration of current economic conditions; changes in the Company’s stock price and the number of shares of common stock that it may or may not repurchase; future dividends; changes in estimates relating to self-insurance liabilities and income tax and litigation reserves; changes in the Company’s effective tax rate; the Company’s ability to maintain an effective system of internal controls; changes in the number of share-based compensation grants, methods used to value future share-based payments and changes in estimated forfeiture rates with respect to share-based compensation; the resolution of the Company’s litigation; and the other risks detailed from time to time in the Company’s SEC reports, including but not limited to, its annual report on Form 10-K for the year ended December 31, 2010 and its quarterly report on Form 10-Q for the quarter ended March 31, 2011. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

Contact for Rent-A-Center, Inc.:

David E. Carpenter
Vice President of Investor Relations
(972) 801-1214
david.carpenter@rentacenter.com

Rent-A-Center, Inc. and Subsidiaries

STATEMENT OF EARNINGS HIGHLIGHTS

(In thousands of dollars, except per share data)		Three Months Ended June 30,
		2011				2011				2010
		Before				After
		Significant Items				Significant Items
		(Non-GAAP				(GAAP				(GAAP
		Earnings)				Earnings)				Earnings)
Total Revenue		$	698,253			$	698,253			$	671,543
Operating Profit			78,085				73,152	(1)			82,831
Net Earnings			42,975				39,888	(1)			47,830
Diluted Earnings per Common Share		$	0.68			$	0.63	(1)		$	0.72
Adjusted EBITDA		$	95,370			$	95,370			$	100,173
Reconciliation to Adjusted EBITDA:
Earnings Before Income Taxes		$	68,709			$	63,776			$	76,936
Add back:
Restructuring Charge			—				4,933				—
Interest Expense, net			9,376				9,376				5,895
Depreciation of Property Assets			16,153				16,153				15,802
Amortization and Write-down of Intangibles			1,132				1,132				1,540
Adjusted EBITDA		$	95,370			$	95,370			$	100,173

(In thousands of dollars, except per share data)		Six Months Ended June 30,
		2011				2011				2010
		Before				After				After
		Significant Items				Significant Items				Significant Items
		(Non-GAAP				(GAAP				(GAAP
		Earnings)				Earnings)				Earnings)
Total Revenue		$	1,440,431			$	1,440,431			$	1,389,962
Operating Profit			168,624				153,571	(1)(2)(3)			171,534
Net Earnings			93,526				84,118	(1)(2)(3)			99,291
Diluted Earnings per Common Share		$	1.47			$	1.32	(1)(2)(3)		$	1.49
Adjusted EBITDA		$	202,445			$	202,445			$	205,648
Reconciliation to Adjusted EBITDA:
Earnings Before Income Taxes		$	149,642			$	134,589			$	159,724
Add back:
Litigation Settlement			—				2,800				—
Impairment Charge			—				7,320				—
Restructuring Charge			—				4,933				—
Interest Expense, net			18,982				18,982				11,810
Depreciation of Property Assets			31,831				31,831				31,523
Amortization and Write-down of Intangibles			1,990				1,990				2,591
Adjusted EBITDA		$	202,445			$	202,445			$	205,648

SELECTED BALANCE SHEET HIGHLIGHTS

(In thousands of dollars)		June 30,
		2011				2010
Cash and Cash Equivalents		$	74,031			$	74,094
Receivables, net			44,573				65,567
Prepaid Expenses and Other Assets			66,872				45,332
Rental Merchandise, net
On Rent			673,431				551,804
Held for Rent			194,239				198,609
Total Assets		$	2,643,599			$	2,410,802
Senior Debt		$	361,544			$	622,403
Senior Notes			300,000				—
Total Liabilities			1,272,501				1,057,518
Stockholders’ Equity		$	1,371,098			$	1,353,284

Rent-A-Center, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF EARNINGS

(In thousands of dollars, except per share data)		Three Months Ended June 30,
		2011				2010
		Unaudited
Store Revenue
Rentals and Fees		$	617,796			$	586,523
Merchandise Sales			50,973				43,031
Installment Sales			16,571				14,503
Other			4,143				19,523
			689,483				663,580
Franchise Revenue
Franchise Merchandise Sales			7,525				6,755
Royalty Income and Fees			1,245				1,208
Total Revenue			698,253				671,543
Operating Expenses
Direct Store Expenses
Cost of Rentals and Fees			139,295				129,818
Cost of Merchandise Sold			39,510				32,603
Cost of Installment Sales			5,898				5,003
Salaries and Other Expenses			395,091				381,121
Franchise Cost of Merchandise Sold			7,195				6,454
			586,989				554,999
General and Administrative Expenses			32,047				32,173
Amortization and Write-down of Intangibles			1,132				1,540
Restructuring Charge			4,933				—
Total Operating Expenses			625,101				588,712
Operating Profit			73,152				82,831
Interest Expense			9,613				6,051
Interest Income			(237	)			(156	)
Earnings before Income Taxes			63,776				76,936
Income Tax Expense			23,888				29,106
NET EARNINGS		$	39,888			$	47,830
BASIC WEIGHTED AVERAGE SHARES			62,450				65,945
BASIC EARNINGS PER COMMON SHARE		$	0.64			$	0.73
DILUTED WEIGHTED AVERAGE SHARES			63,148				66,773
DILUTED EARNINGS PER COMMON SHARE		$	0.63			$	0.72

Rent-A-Center, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF EARNINGS

(In thousands of dollars, except per share data)		Six Months Ended June 30,
		2011				2010
		Unaudited
Store Revenue
Rentals and Fees		$	1,228,224			$	1,170,371
Merchandise Sales			150,239				132,428
Installment Sales			33,258				29,640
Other			9,482				39,859
			1,421,203				1,372,298
Franchise Revenue
Franchise Merchandise Sales			16,671				15,180
Royalty Income and Fees			2,557				2,484
Total Revenue			1,440,431				1,389,962
Operating Expenses
Direct Store Expenses
Cost of Rentals and Fees			274,944				259,932
Cost of Merchandise Sold			108,089				94,414
Cost of Installment Sales			11,946				10,429
Salaries and Other Expenses			792,289				772,592
Franchise Cost of Merchandise Sold			15,949				14,522
			1,203,217				1,151,889
General and Administrative Expenses			66,600				63,948
Amortization and Write-down of Intangibles			1,990				2,591
Litigation Settlement			2,800				—
Impairment Charge			7,320				—
Restructuring Charge			4,933				—
Total Operating Expenses			1,286,860				1,218,428
Operating Profit			153,571				171,534
Interest Expense			19,373				12,134
Interest Income			(391	)			(324	)
Earnings before Income Taxes			134,589				159,724
Income Tax Expense			50,471				60,433
NET EARNINGS		$	84,118			$	99,291
BASIC WEIGHTED AVERAGE SHARES			62,902				65,822
BASIC EARNINGS PER COMMON SHARE		$	1.34			$	1.51
DILUTED WEIGHTED AVERAGE SHARES			63,720				66,645
DILUTED EARNINGS PER COMMON SHARE		$	1.32			$	1.49