Rent-A-Center Slashes Q3 Earnings Outlook Citing Macro Conditions; Names New CFO – Rent-A-Center (NASDAQ:RCII)
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- Lease-A-Centre Inc RCII has appointed Fahmi Karam as its Government Vice President and Main Financial Officer efficient October 31, 2022.
- The company also explained the latest Govt Vice President and Chief Money Officer, Maureen Small, departed on September 28, 2022.
- Karam joins RCII from Santander Consumer United states of america, exactly where he served as the CFO.
- He gained his Bachelor’s degree and Learn of Accounting from Baylor College, and he is a Qualified General public Accountant.
- Outlook: Hire-A-Centre revised its Q3 product sales direction to $1 billion – $1.02 billion from $1 billion – $1.055 billion versus the consensus of $1.03 billion.
- RCII slashed its Q3 EPS outlook to $.85 – $.95 from $1.05 – $1.25 towards the consensus of $1.14.
- “External economic ailments have ongoing to deteriorate over the previous few months,” claimed CEO Mitch Fadel.
- Meanwhile, the business is not updating or reaffirming its previously noted consolidated assistance for the comprehensive 12 months 2022.
- Price tag Motion: RCII shares closed lower by 20.3% at $17.80 during right after-hrs on Thursday.









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