Low-profile RTR network thrives

Article Abstract:

American Rental Network, a national cooperative of furniture rental companies, finds strength in numbers and preserves its profitability year after year despite acquisitions by major furniture chains. While the furniture rental industry continue to be shaken by consolidation, American Rental, or Arnet, remains in operation after 32 years. Stability in membership also characterizes Arnet, which currently has 11 members with a combined total of around 40 furniture showrooms across the US. Arnet President Joel Kohn of Alco Furniture said Arnet members share information and sometimes pool resources to compete more effective with national and regional furniture rental firms.

Comment:

Finds strength in numbers and preserves its profitability year after year despite acquisitions by major furniture chains

Strategy & planning, American Rental Network

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Rent-Way, Home Choice set merger

Article Abstract:

Rent-Way has reached an agreement to merge with Home Choice Holdings of Texas via a stock-swap deal valued at $225 million. The merger deal, which already received approval of boards of directors and major shareholders of the two companies, is scheduled to be completed in the fourth quarter of 1998 provided it received approval of shareholders of both companies. Under the terms of the agreements, Ren-Way will swap 9.99 million shares for all of Home Choice stock, giving shareholders of Home Choice 0.588 of a Rent-Way share for every Home Choice share they own.

Comment:

Reaches an agreement to merge w/ Rent-Way via a stock-swap deal valued at $225 mil

Acquisitions & mergers, Rent-Way Inc., Home Choice Holdings

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Acquisitions triple Renters Choice revenues

Article Abstract:

Renters Choice of Dallas, TX, has been aided by the successful integration of two acquisitions in recording a 217% increase in revenues to $265.9 million for the third quarter of 1998. The furniture rent-to-own company now operating 2,125 outlets in 50 states has received a $150.4 contribution from the 1,450 stores of Thorn Americas, acquired in Aug. 5, 1998 for $900 million, and $21.4 million from Central Rents, acquired in May 1998. The original stores of the company likewise gave $94.1 million in sales for a same-store increase of 9.6%.

Comment:

Is aided by successful integration of two acquisitions in posting 217% rise in revenues to $265.9 mil for third quarter of 1998

Sales, profits & dividends, Renters Choice Inc.

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