As of Mar 31, 2017, the company operated 2,453 stores in all 50 states, the District of Columbia, Puerto Rico, Canada and Mexico under the Rent-A-Center, Home Choice and Get It Now names, 1,389 Acceptance Now kiosk locations, and there were 229 franchised stores in 31 states.
In fiscal 2016, the company's store developments activity can be summarized as follows: closed 209 rent-to-own locations in the US; closed 13 net rent-to-own locations in Mexico; opened 171 and closed 185 Acceptance Now kiosk locations; and franchisees added 2 net stores. During the first quarter of fiscal 2017, the company closed 433 net stores. The company has stopped opening new stores in Mexico and are pursuing several initiatives designed to improve the financial performance of operations in existing locations.
The company leases substantially all locations. Most stores have initial lease terms of 5-years, with renewal options for an additional 3- 5 years. The Acceptance Now kiosks occupy space without charge in the retailer's location with no lease commitment.
Store are located primarily in strip centers, range in size from 1,000 to 24,000 square feet and average approximately 4,700 square feet, with 75% of space devoted to the showroom and 25% for office and storage. For new stores, the company targets 4,200 square feet in regional or neighborhood centers anchored by dominant or discount grocery stores, or by national discounters, shadow centers, and non-anchored shopping centers.
|Total gross square feet (M)||12,145||12,187||13,231||14,105||14,857||14,561|
|Total gross square feet growth||-7.4%||-7.9%||-6.2%||-5.1%||2.0%||0.8%|
|Avg store gross sq ft||4,700||4,700||4,700||4,700||4,700||4,700|
|Avg store gross sq ft growth||0.0%||0.0%||0.0%||0.0%||0.0%||0.0%|
Notes:Only includes company-operated stores; excludes franchised stores and Acceptance Now kiosk locations