Rent-A-Center reports stable Q1 profit

Plano, Texas – Rent-A-Center Inc. reported stable profit during the first quarter of fiscal 2015. The retailer’s net income totaled $27.3 million, up 1% from $27.26 million in the same quarter a year earlier.



Consolidated total revenues climbed 6% to $877.64 million, from $828.47 million. Same-store sales rose 8%.



“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, CEO 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 margin-driving flexible labor and supply chain initiatives, and we have taken significant steps to manage smartphone losses.”