Rent-A-Center completes Acima acquisition
In today’s top retail news, Rent-A-Center, Inc. completed its acquisition of Acima Holdings, while Tanger Factory Outlet Centers, Inc. announced it had raised 95% fourth quarter rents. Additionally, Batteries Plus has revealed plans to open 50 new stores this year.
Rent-A-Center, Inc. has completed its purchase of Acima Holdings. “Acima’s technology and stellar team will help us accelerate our innovation roadmap, enabling us to support current and emerging LTOs. [lease-to-own] the omnichannel needs of a diverse and growing portfolio of e-commerce and retail partners, ”Rent-A-Center CEO Mitch Fadel said in a statement.
Tanger Factory Outlet Centers, Inc. announced as part of its financial results for the quarter and year ending December 31, 2020, that it has collected 95% of fourth quarter rents. Tangier also noted that it wrote off $ 3.1 million or 3% of fourth quarter rents during the quarter. The Company’s operating properties are located in 20 states and Canada, representing approximately 13.7 million square feet leased to more than 2,600 stores operated by more than 500 branded companies.
Batteries Plus has been developing and evolving to meet customer needs for more than three decades. Management says its resilience during downturns such as the pandemic has fueled demand from franchisees, and the merchant has now announced plans to open 50 new stores in 2021. The 33-year-old retail chain currently has around 700. stores in the United States.
Just two weeks after Tractor Supply Company reported successful year-round sales and earnings, as well as a 30% increase in its dividend, the retailer is making waves once again by revealing the biggest buy in 83 years of company history. The trader revealed that he has purchased Orscheln Farm and Home as well as 167 retail outlets located in 11 states.