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Rent-Way, crediting sales - Rent-Way Inc

Television Digest with Consumer Electronics, Jan 19, 1998

Rent-Way, crediting sales from newly acquired chains, said first-quarter income rose to $2 million from $680,374 year earlier on 70.2% gain in revenues (see financial table). In quarter ended Dec. 31, Rental King, 70-store chain acquired in Jan. 1997, accounted for $6.6 million (60%) of total revenues, while Bill Coleman TV, 15-outlet retailer, represented $2.3 million (20.2%).

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Rent-Way since has signed deals to buy 145-store Champion Rentals (TVD Jan 12 p17) and 50-outlet Ace TV. Rent-Way also completed 2.5-million share public stock offering in quarter that raised $46.9 million, $23 million of which will repay borrowings outstanding on credit agreement with National City Bank of Pa.

COPYRIGHT 1998 Warren Publishing, Inc.
COPYRIGHT 2000 Gale Group

 

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