1. Rent-A-Center Lays out Turnaround Plan, Defies Call for Sale

    Rent-A-Center Lays out Turnaround Plan, Defies Call for Sale

    Rent-A-Center lays out turnaround plan, defies call for sale * Activist investor Engaged Capital calls plan "high-risk" * Company plans to hike prices, boost e-commerce offerings * Expects 2018 EPS of $1.20-$1.40 vs. estimates of $0.99 * Shares up 6.5 pct, had gained 14 pct since calls for sale (Adds Engaged Capital's response, details; updates shares) Rent-to-own furniture retailer Rent-A-Center Inc said on Monday that it would not sell itself and instead outlined steps to improve profitability, choosing to move ahead with what activist investor Engaged Capital called a "high-risk path". The company said the steps, such as ...

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    1. Regardless of the specifics of the turnaround strategy, if the Board is interested in acting as the shareholder's fiduciary, they need to understand the value of all strategic alternatives, including a sale of the entire company, before embarking on the high-risk path laid out today.
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