On Tuesday, Shares of Rent-A-Center, Inc. (NASDAQ:RCII), gained 13.57% to $30.71.
Rent-A-Center, declared results for the quarter ended March 31, 2015.
Highlights on the quarter comprise the following:
- On a GAAP basis, earnings per diluted share was $0.51 in the first quarter flat to preceding year
- Earnings per diluted share, not taking into account special items, reduced to $0.52 contrast to $0.56 for the first quarter of the preceding year.
- Merged total revenues raised 5.9 percent to $877.6 million and same store sales raised 8.0 percent
- Core U.S. same store sales raised by 1.0 percent, representing a sequential improvement of 160 basis points. Since the first quarter of 2014, the two-year same store sales comp has improved by 970 basis points. The enhance is primarily due to the new smartphone product category and higher merchandise sales.
- Acceptance Now same store sales raised 34.1 percent, a sequential improvement of 570 basis points, driven by the continued maturation of the business and the introduction of 90 day option pricing. There were 53 Acceptance Now staffed locations opened and 27 closed during the quarter.
- The Company’s operating profit as a percentage of total revenues, not taking into account special items, reduced from 7.2 percent to 6.5 percent, but improved sequentially by 40 basis points.
“Our multi-year plan to improve the profitability and performance of our Core business continues to build momentum on a number of fronts,” said Robert D. Davis, the Chief Executive Officer of Rent-A-Center, Inc. “In the first quarter, same store sales in the Core swung to the positive, labor costs are lower, we are underway with the margin-driving Flexible Labor and Supply Chain initiatives, and we have taken noteworthy steps to manage smartphone losses.”
Rent-A-Center, Inc., together with its auxiliaries, leases household durable goods to customers on a rent-to-own basis. The company operates in four segments: Core U.S., Acceptance Now, Mexico, and Franchising.
At the end of Tuesday’s trade, Shares of Ocwen Financial Corp. (NYSE:OCN), jumped 7.99% to $8.51.
Ocwen Financial will hold a conference call on Thursday, April 30, 2015 at 5:00 p.m. (ET) to review the Company’s preliminary 1st Quarter 2015 operating results. These events will follow Ocwen’s 1st Quarter 2015 preliminary earnings release.
Ocwen Financial Corporation, through its auxiliaries, is engaged in the servicing and origination of mortgage loans in the United States and internationally. The company’s Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset administration services to owners of mortgage loans and foreclosed real estate.
USA Technologies Inc. (NASDAQ:USAT), ended its last trade with 7.80% gain, and closed at $3.04, hitting its highest level.
USA Technologies, and Chase Commerce Solutions, the global payment processing, merchant acquiring and offers business of JPMorgan Chase & Co., declared a new planned relationship. Through a multi-year agreement, self-service retailers can benefit from USAT’s best-in-class cashless payments and M2M/IoT service with the added strength, security and expanded reach of Chase Commerce Solutions’ market-leading payment processing.
“There is an evolution happening in the way that both consumers and merchants handle money and it starts with mobile and cashless payment technology,” stated Dave DeMedio, chief financial officer of USA Technologies. “We have assisted thousands of small-ticket self-serve retail merchants to seamlessly make a transition to cashless payments, and there is still much growth opportunity in the space. This planned relationship represents the first step with Chase Commerce Solutions toward expanding our footprint through leveraging inherent economies of scale.”
With payment options such as credit card, debit card and mobile payment options accessible to consumers, USAT’s portfolio of cashless payment, telemetry and consumer engagement services assist self-serve retail businesses’ transition to cashless acceptance easy and frictionless.
The companies believe that this planned relationship brings greater opportunities for USAT to scale more rapidly, and to expand its product lines into new domestic and global verticals and markets, while providing Chase Commerce Solutions inroads into the self-service retail markets. USAT estimates the market size at more than $120 billion in annual transaction volumes, and 13-15 million potential “merchant locations” in the U.S.
USA Technologies, Inc. provides wireless networking, cashless transactions, asset monitoring, and other value-added services principally to the small ticket unattended retail markets in the United States and internationally.
Finally, Viggle Inc. (NASDAQ:VGGL), closed at $2.47, with 6.24% gain.
Viggle, has planned a conference call on Monday, May 11, 2015 at 9:00 A.M. Eastern Time (ET) to review results for the fiscal 2015 third quarter ended March 31, 2015.
Participating on the call will be Viggle President and Chief Operating Officer Greg Consiglio and Chief Financial Officer John Small, who will talk about operational and financial highlights for the fiscal 2015 third quarter.
Viggle Inc. operates as a mobile and Web-based entertainment marketing platform for media companies, brands, and consumers in the United States. It guides users towards various forms of media consumption with television enhancement, music discovery, entertainment content publishing, and distributed viewing reminders.
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