Conn's Inc (CONN): RCII will not renew agreement with CONN,...

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Wednesday, 04/26/2017 6:06:20 PM

Wednesday, April 26, 2017 6:06:20 PM

RCII will not renew agreement with CONN, how big a deal is it?

Crusher 4 U3 hours ago
Rent-A-Center (NASDAQ:RCII) announces that the Acceptance Now division decided not to renew a referral agreement with Conn Appliances (NASDAQ:CONN).

The current contract is due to expire on June 6.

The company passed on renewing the agreement due to the quality and performance of ANow customer accounts originating from Conns stores in terms of delinquencies, losses and product returns.

"We expect these closures will result in an immediate improvement in cash flow in the ANow business beginning in June, and an improvement in ANow’s return on investment for the remainder of 2017," says Interim CEO Mark Speese.

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