Aaron Rents Reports Revenue Up 19%; Same Store Sales Up 9.8%
Aaron's Sales and Lease Ownership division led the company's record quarter with a 26% increase in revenue. The division increased its store count during the third quarter by a net 39 stores...more

Rent A Center Gets Roughed Up
Rent a Center stock plunged 14% in early trading following yesterday's earnings release. By noon, 2 million shares had traded hands and RCII had gained back a few points but was still down 9%. At press time (3:15 Eastern) RCII was trading at $31.40, down $2.97 or 8.64% on volume of 2.4 million shares; 3 times average volume...more

Consumer Confidence Increases In October After 5 Straight Months of Decline
“After declining for five consecutive months, the Present Situation Index reversed course in October,” says Lynn Franco, Director of The Conference Board’s Consumer Research Center...more

DVD+RW Format Gains Momentum in Consumer Electronics as New Recorders Come to Market for the Holidays
"The Plus format already is becoming the de facto standard for DVD recording in personal computers," said Maureen Weber, general manager of Optical Storage Solutions unit at HP...more

Rent a Center Acquisitions Drive Revenue Up 11.2%; Same Store Sales Up Modest 3.4%
"...the child tax credit refunds led to increased payouts and lower units on rent in August and September..".more
Mark Speese

Neo Socialist Philip DeVol Calls RTO Predatory; Compares Practice To "Colonial Exploitation"
In a rant worthy of Marx, author Philip Devol compared rent to own to "Colonial Exploitation" in a recent interview with the Palladium Item, a local Richmond Indiana newspaper...more

Rent to Own Payment Histories Included In Credit Score?
There is a move afoot to include Rent to Own payment histories in consumer credit scores...more

Rent A Center Conference Call Tue 10:45 Eastern
Listen in!...more

Rent-A-Center Q3 Conference Call to Be Broadcast Live Via the Web
This call will be held to discuss the earnings release that will be issued after the close of the market on Monday, October 27, 2003. Audio of the call will be broadcast live...more

Canada's Top 100 Woman Business Owners
The average revenue of the top 100 is $25.5 million. Average employees 179. Average work week 51 hours...more

Furniture Brands International Reports 21.5% Decrease in Earnings For Q3
"The soft business environment the residential furniture industry has been experiencing for three years improved somewhat toward the end of the third quarter of this year," stated W. G. (Mickey) Holliman, Chairman, President and Chief Executive Officer...more

Rent Rite Comments On Being Named 4th Fastest Growing Retailer In US
"The company’s growth is a result of a very significant number of consumers who are switching to Rent Rite from other rental purchase companies..."more
Ed Stanko

Flash
Craig Moon Named Sears Contract Sales National Account Manager For Rent to Own Industry
"I'm thrilled to be back in the Rent to Own industry...more
Craig R. Moon

World Series Boom For Florida RTOs
At Rentway in Fort Lauderdale, 16 52-inch TVs were rented almost right off the trucks, said manager Jon Kaplan. People paid $108 to get the sets for a week as the Marlins won the pennant and moved into the World Series...more

Dell Introduces LCD TV; 17'' Display Integrates Television Tuner With Flat Panel Monitor
It will be available in the United States and Canada on Oct. 28 and will retail for $699...more

Rent-A-Center Deploys Wireless Network Across All Stores
The system gives Rent-A-Center locations secure wireless connectivity throughout each store, enabling the secure transfer of business-critical customer information between terminals and wireless employment kiosks...more

Flash
ColorTyme Secures $50 Million Credit Facility; Plans Major Expansion
ColorTyme, Inc., the largest RTO franchisor in the country has secured a new $50 million dollar credit facility with Wells Fargo Foothill for new and existing ColorTyme franchises. This brings the total credit facility available through ColorTyme, Inc. up to $65 million...more

Bestway Reports Same Store Sales Up 11.7%
"The fact that we achieved double digit growth in same store revenue four consecutive quarters in fiscal year 2003 is a testament to both our operating philosophy and the dedication of all our associates"...more
David A. Kraemer
CEO

Four Named to American Furniture Hall of Fame
New members of the American Furniture Hall of Fame for 2003 were selected during a banquet gala on October 16, 2003 during the High Point Market...more

Rent-Way Reports 2.5% Same Store Growth For Quarter; Projects net Loss
"We are encouraged by these results, especially our positive comp sales growth in the fourth quarter..."...more
William E. Morgenstern
CEO

Strange...
...The washer and dryer had been rented from a “rent-to-own” business in Clovis and not been fully paid. Police found a note on the outside of the mobile home signed “neighborhood burglar.”...more

Segway Human Transporter Available For Rent At High Point Market
MMPI, through Relay, a rental franchise company partnering with Segway, offers 10 Segway Human Transporters for attendees to try during the Market...more

U.S. leading Index Decreased In September
The leading index had increased for four consecutive months before September’s decline, and is still up by 2.3 percent from its recent low in March...more

Rent-n-Roll Opens First Louisiana Franchise
Larry Sutton, President of RENT-n-ROLL stated "I am delighted at the prospect of BDK carrying the RENT-n-ROLL banner in the Northwest Louisiana market...more

Maytag Reports Record Q3 For Appliance Shipments
"We are encouraged by a strong third quarter for major appliances. Maytag Appliances witnessed solid gains in market share...more
Ralph F. Hake
Maytag CEO

update
Aaron Rents CEO Honored By Association
Aaron Rents CEO Charlie Loudermilk won the International Furniture Rental Association's (IFRA) Carl F. Barron Outstanding Achievement Award.

Feature
12 Steps for Successfully Renting Jewelry
With Christmas approaching, begin planning now for a profitable holiday season
Done correctly, jewelry will be the most profitable 10 square feet in your store. Preparation is the key to a successful Jewelry Renting Christmas Season. Make the extra effort and reap the profits...more

Rentcash Reports 112% Revenue Increase; Remains In Red
The Company's overall store count as of the year ended June 30, 2003 stood at 70 stores in six provinces...more

Annual CEA Survey
Electronics Products Top America's Holiday Gift-Giving
According to the CEA survey, 70 percent of consumers expect to spend the same amount or more this year on gifts this holiday season, up from 68 percent in 2002. The average consumer will purchase approximately seven electronics products this holiday season, up from six products in 2002...more

Leasing Begins For Phase Two Of World Market Center
Leasing has officially begun on Phase Two, which will encompass 1.5 million square feet on 15 floors and is planned to open in 2006...more

O’Rourke Distributing Relocates Corp Headquarters to Iowa
The O’Rourke brothers have come a long way since their modest beginnings of selling citizen band, or CB, radios from the family farm in the 1960s...more

Aaron Rents to Enter Canadian Market; Opening Franchise Stores in Ontario
"We see the Canadian market as a huge opportunity for our highly successful Aaron's Sales & Lease Ownership concept."
R. Charles Loudermilk, Sr.
Chairman and CEO of Aaron Rents...more

La-Z-Boy Warns
"As has been widely reported," Darrow said, "Labor Day weekend was a generally strong period for retail furniture sales throughout the country. Unfortunately, this improved business trend did not continue and we have seen a declining incoming order rate in recent weeks...more

Aaron Rents Acquires Eight More Franchise Stores
The acquired stores averaged $81,000 monthly revenue. The acquisition price was an avg of 9.69 times monthly revenue. Aarons had previously offered all franchisees 11 times revenue for stores exceeding 100k monthly...more

Bryce Introduces RTO Industry's Lowest Cost Live Jewelry Program
"With the busiest jewelry selling season of the year fast approaching, this is a great way for an RTO dealer to establish a jewelry program with a low investment and enjoy an increase in new rentals."
Bryan Collins
President of Bryce Co...more

Banks Begin Distributing Newly Redesigned Currency Today
In dozens of communities from coast to coast, U.S. government officials and local business, banking and civic leaders participated in transactions with the new $20 notes, marking the first opportunity for the public to spend the new currency...more

Chief Executives' Confidence in the U.S. Economy Surges
“The continued rise in CEO confidence is strong evidence of a turnaround in corporate performance,” says Lynn Franco, Director of The Conference Board’s Consumer Research Center...more

Online Submissions Now Open for "Technology is a Girl's Best Friend"
The Product Showcase is one component of a comprehensive, year-round CEA program focusing on the female technology consumer...more

La-Z-Boy Announces Management Changes
"We must strengthen our communication effort throughout the company, encourage speed, performance and accountability at all levels in order to accelerate profitable growth."
Kurt L. Darrow
La-Z-Boy's president and CEO...more

Rent-A-Center Revamps Website
It's amazing what the addition of a few happy humans can do. The feel of the site went from stark and cold, to warm and inviting. A true visual sales pitch...more

More Consumers Using Internet to Do Personal Banking and Other Financial Transactions
Internet usage for financial transaction has surged during the past two years. Today, nearly half of Internet users conduct financial transactions online...more

survey
Nearly a Third of Americans (31%) are Insecure in Their Jobs, Causing Reduced Use of Credit
One third of Americans (33%) have decreased their use of credit or their willingness to take on new debt because of their feelings of job insecurity...more

Comm South Declares Bankruptcy
According to sources, business boomed for Comm South until poor customer service and a seemingly endless list of competitors chipped away at the companies market share. Other pre-paid dial tone providers that utilize Rent to Own companies as agents are...more

Tornado Damages New Jersey ColorTyme

Rent Rite Fire Forces Shopping Center Evacuation

Aaron Rents COO Robert Loudermilk Buying Property To Close Down Bars And Clean Up Neighborhood

Update: Photo Now Available Of the Recalled Home Line Bunk Bed

Panasonic Introduces First 4-Megapixel Digital Camera with 12x Optical Zoom
The new, high-performance DMC-FZ10 Lumix camera is targeted for retail introduction in November...more

Rent-A-Center Announces Dismissal of Securities Lawsuit
The case alleged that the Company and certain officers and directors of the Company, as well as the managing underwriters of an earlier Company common stock offering, violated federal securities laws by issuing false and misleading statements and omitting material facts...more

Bestway Amends Revolving Credit Loan Agreement
Bestway, Inc. (BSTW) today announced that the Company amended and restated its Revolving Credit Loan Agreement with Comerica Bank...more

Jackie Hirschhaut Named Named President Of Women InThe Home Industries Today (WithIt)
Jackie Hirschhaut (AFMA) has been named WithIt President, succeeding Karen McNeill-Harris (McNeill Communications Group), who assumes the role of Board Chairman...more

Rent Rite Named 4th Fastest Growing Company In the US
Baca Raton based Rent Rite was named the 4th fastest growing privately held company in the United States with sales growth of 12,359% over the past 5 years...more

Special Feature
Rent to Own Accounting
Miscellaneous Suspense
The Handy-Dandy GL Account
One of the great things about the discipline of accounting is that there is always a tidy solution to an accounting problem. Well, most of the time. The reason for this is because you are done only when the books are "in balance". You can never just throw up your hands, walk away, and leave everything hanging...more

World Market Center Construction Underway In Las Vegas
Comprising 7.5 million square feet and including a convention center, World Market Center will showcase every aspect of the design trade including home furnishings, decorative accessories, lighting, area rugs, and related segments...more

Basset Sales Down 5%; Sees Business Improving
"Business appears to be improving slightly"
Robert H. Spilman Jr.
Bassett CEO...more

Rent a Center Acquires 11 Show Me Rent to Own Locations
Gary Romine, former President of APRO and owner of Show-Me Rent to Own, has sold 11 stores to Rent a Center...more

Goldman Sachs Hired To Find Buyer For UK's Largest Rent to Own; Boxclever

Aaron's All Female Dream Team To Race This Weekend
What started as a dream, became reality, and continues this week in Las Vegas for the first all-female pit crew in NASCAR...more

Home Line Recalls Popular Rent to Own Bunk Bed
The Consumer Product Safety Commission and Home Line Industries, a Philadelphia based furniture manufacturer/distributor, has issue a safety recall on a bunk bed popular in the rental purchase industry...more

Legislative Update
Six Term Democrat Tim Holden (PA) Becomes 80th Co-Sponsor of HR996
Consumer Rental Purchase Agreement Act
Rep. Holden is in his sixth term and serves on the Agriculture and  Transportation and Infrastructure committees. Prior to being elected to the US House of Representatives in 1992, Mr. Holden served as Schuylkill Co. Sheriff from 1985-92...more

Help Wanted Index Drops In August
Says Conference Board Economist Ken Goldstein: “With the economy on the upturn, a labor market turnaround may finally develop...more

Rent a Center Stock Jumps On S&P Announcement
Rent a Center stock (RCII) rose 3.33% Wednesday on nearly three times average volume following Standard and Poor's announcement...more

Feature
Rent to Own in Vermont, 7 Years After the Fall
Vermont is a perfect example of the old adage "Be careful what you wish for". Prior to 1993, Vermont had no specific statute regarding rent to own. Wishing to 'legitimize the transaction', as well as offer RTO companies and consumers some protection, RTO executives began lobbying the Legislature for a clearly defined statute. A bill modeled on the New York statute was submitted to the Vermont legislature for review. The issue bogged down in committee and no vote was planned. Everyone went home...that's when things went awry...more