Rent-A-Center sees fast growth in Mexico
Plano, Texas-based Rent-A-Center reported a 1.4% increase in revenues for the second quarter ended June 30, from $749.7 million to $760.5 million.
However, same-store sales declined 1.6%, primarily attributable to the decrease of about $34.7 million in the company's core U.S. segment.
Net earnings for the quarter were $42.0 million, down slightly from $44.2 million.
"We believe the core U.S. business will continually improve throughout the balance of the year, and our growth initiatives will remain on their productive path," said CEO Mark Speese.
In Mexico, the company grew revenues more than 137% and ended the quarter with 130 locations.