Rent-A-Center February Core US Same Store Sales Drop 16%

Rent-A-Center, an international experiential services company, said Thursday that its core U.S. business February same store sales decreased 16%.

The sequential decline was due to less merchandise sales revenue from the tax refund delay, lower revenue per agreement when customers paid out early from the higher promotional activity in 2016 and generally lower end product in the system, and being open one less business day in 2017 versus the leap year in 2016.

For the company’s Acceptance NOW business, February same store sales were down 3.8% and were impacted by a delay in tax refunds as merchandise sales were down by 15% partially offset by the continued positive performance in rental and fee revenue.