Albuquerque, New Mexico Clarksville, Indiana
Flagstaff, Arizona Philadelphia, Pennsylvania
Winslow, Arizona Bridgeport, Connecticut
Harrison, Arkansas Lawrence, Massachusetts
Lexington, Tennessee New Bedford, Massachusetts.
The company expects to open 4-6 additional stores by December 31, 2004.
"We have accelerated our store opening plans for 2005," said William
Morgenstern, CEO of Rent-Way, Inc. "At this time we expect to open
approximately 30-40 additional stores over the next 12 months. There are many
markets where we can leverage our multi-unit management team and existing
advertising coverage. We expect these new stores to enhance our operating
margins once they ramp up in 12 to 16 months."
Todd Homberger, VP of new stores, said, "We have put together a first rate
new store opening plan that includes a rigorous challenge process for site
location, staffing and financial expectations. Each site undergoes very
intense demographic and competitive research before its opening is approved by
our senior management team. I am excited about what we see in the pipeline
for 2005."
The company intends to give financial guidance for core operations, new
store expectations and combined company forecast during its earnings call
later this month or early December.
Rent-Way operates 761 stores
in 33 states.
