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Acima serves 30% of US consumers whose credit score is between 300 to 650. Rent-A-Center acquired Acima in February 2021 the acquisition cost about $1.65 billion. The business eliminates inventory and total retailing business costs, making the company more profitable. Preferred Lease business proposes lease services for those consumers who buy goods from retailers which partner with Rent-A-Center. According to the management, same-store sales were growing in last 12 quarters consecutively. Rent-A-Center business gives an opportunity to buy furniture, appliances, or electronic goods from company-owned 1845 physical locations or from the company's website. The company's 2 biggest operating segments are Rent-A-Center business and Preferred Lease business. At the same time, huge QE programs and stimulus packages increase liquidity substantially and lower the number of non-performing loans in the market. Thus, Rent-A-Center allows these users to acquire a merchandise for which they can't pay at the moment of acquisition.Ĭurrently, the macrotrends are quite beneficial for the company as interest rates are rapidly rising, which will allow the company to increase fees for the leases. It is wor th mentioning that almost 28% of US consumers have lower than 650 credit rating and almost two-thirds of them have less than $75,000 annual income. The company is only checking residence and income of a consumer, thus enabling low credit score individuals to use the services. This fact attracts the attention of those consumers who have 650 or lower credit ratings. The company doesn't check credit ratings of consumers.
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The company is specialized in providing short to mid-term, low-fee loans to consumers who buy goods and prefer to pay later. Rent-A-Center proposes lease-to-own services in the USA, Puerto Rico, and Mexico. It seems that the market is neglecting the benefits of the acquisition as the stock is significantly undervalued considering DCF model, historic multiples of the company, and sector multiples. The acquisition will increase revenues significantly and improve margins. Rent-A-Center ( NASDAQ: RCII) acquired Acima in February 2021. Kerns studied English literature and neurology at UC Davis.Photo by Hemera Technologies/ via Getty Images She has served as a book columnist since 2008 and is a member of the National Book Critics Circle. Michelle Kerns writes for a variety of print and online publications and specializes in literature and science topics.
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