Association of Progressive Rental Organizations

J.C Penny, Sears, Macy’s and Kmart Store Closures

 
Retail building with a Store Closing banner indicating another retail business falling victim to a recession.Written by APRO Deputy Executive Director Richard May
J.C. Penny, Sears, Macy’s and Kmart closing stores due to “market corrections”. Penny’s announces the closure of 130 to 140 stores plus offering buyouts to 6000 workers. Macy’s is planning on 100 store closings. Sears will close 150 stores and Kmart looks to close 108 stores. These department store closings are reflective of a trend of closures over the past decade. On the flip side, Amazon’s growth has grown to $120 billion since their beginning in 1997 and their growth doesn’t seem to be slowing. “Traditional department stores are having trouble with millennials,” says Paul Whaba, writer for Fortune Magazine. Experts say millennials are more interested in an in-store shopping experience or a no-shopping experience through a couple of clicks on the Internet and a next-day delivery. The shift of on-line sales to brick and mortar sales has repercussions all around. “It became apparent to us that our footprint was too large,” Penney CEO Marvin Ellison said. The closures will “allow us to raise the overall brand standard of J.C. Penney” and invest in remaining stores. Analysts also speculate that remaining department stores may reduce the size of the stores and look for different brands to distinguish themselves rather than compete with the on-line outlets and their prices of the same goods. “This is just a market correction,’’ Farla Efros, president of HRC Retail Advisory, said in an interview. “There were too many stores, and too many retailers and too much noise in the market.’’ Paul Whaba attributes the ‘market correction’ to department stores not keeping up with the new age. “The same old, same old is the road to ruin,” remarks Wahba. The lack of innovation by department stores and retail outlets have been a topic of criticism these outlets have struggled with in the past decade. Whaba says to draw people back into stores “products need to be visually appealing, interactive” with the sales people leading the conversation rather than directing a sales pitch.

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Mike Lewis

Mike Lewis is a Premier Rental Purchase franchisee with multiple stores and currently serves as Vice President of Operations. With 33 years of experience in the rent-to-own industry, he has spent the past 20 years working closely with franchisee owners and previously spent 12 years in Corporate RTO, gaining a strong foundation in the business.

For the past five years, Mike has been sharing his knowledge by teaching managers and franchisees at the company’s Training Center.

Outside of work, he enjoys time with his family, kids, and grandkids, and appreciates the simple things in life – especially riding his Harley Davidson with the sun on his face. If you know, you know!

Lauren Talicska

Arona Corporation dba Arona Home Essentials

Lauren Talicska is an experienced multi-channel marketing specialist and the Vice President of Marketing & Communications at Arona Home Essentials. She has found her home in the RTO community, supporting stores in branding, growth, and increasing traffic.

You may recognize Lauren as a former RTO vendor, including her time as a partner for Nationwide RentDirect, or her previous participation in the APRO Vendor Advisory Committee. Lauren calls Columbus, Ohio, home and spends her workday crafting and executing marketing promotions from inception to realization, all while supporting the branding and social media needs of all the Arona stores in 12 states (plus Puerto Rico!).

Charles Smitherman

APRO

Charles Smitherman, JD, PhD, CAE, became CEO of APRO in 2023, bringing years of legal and executive experience in the rent-to-own industry. 

Prior to joining the association, Charles served as COO, General Counsel, and Vice President of PTS Financial Services, where he played an active role in the rent-to-own industry by representing his company through PTS’s club program offering with APRO member dealers. Charles is an attorney with two decades of experience across a wide variety of areas, including RTO, consumer financial services, antitrust, corporate law, mergers and acquisitions, litigation, franchise law, and privacy law. Following law school at the University of Georgia, Charles earned a Master of Legal Studies and PhD in Law from the University of Oxford in England.

Charles is credentialed as a Certified Association Executive (CAE) with the American Society of Association Executives, a Certified Franchise Executive (CFE) with the International Franchise Association, and a Certified Information Privacy Professional (CIPP/US) and Certified Information Privacy Manager (CIPM) through the International Association of Privacy Professionals. As APRO’s sixth CEO in its 45-year history, he brings a collaborative, member-focused approach to association leadership, emphasizing transparency, advocacy, and value creation. Outside of work, Charles is an active ultra runner and open water swimmer.

Mike Kays

Ashley Furniture Industries

As VP of Rental Sales for Ashley Furniture Industries, Mike thrives on building relationships with our RTO industry veterans, and helping businesses grow through new product, new marketing, and new supply chain options.

Mike works to leverage a wide breadth of relationships and influence, intimate knowledge of market trends, and unique knowledge of what RTO dealers need from a supplier to be successful.

The saying goes that a high tide raises all boats, and our goal is to leverage the world’s largest furniture manufacturer to drive the continued growth of the RTO industry and all the suppliers.

Mike Tissot

Countryside Rentals Inc., dba Rent-2-Own

Mike grew up in the rent-to-own industry under the guidance of his father, former APRO President and RTO legend Darrell Tissot. For nearly 25 years, Mike’s innovative leadership has helped expand the family business to more than 40 stores across Ohio and Kentucky while also shaping the industry as a whole.

He has served as President of the Ohio Rental Dealers Association, an APRO board member and Treasurer, and President and Treasurer of the TRIB Group. His contributions have earned him the APRO President’s Award of Excellence and the title of APRO Rental Dealer of the Year.

Outside of RTO, Mike enjoys time at the lake house or in Orange Beach, Alabama, with his girlfriend, Angela Strong McCool. A passionate Cincinnati Reds fan, he rarely misses a game, whether watching or listening alongside his parents. He also takes every opportunity to visit Arizona, where his daughter is currently attending Arizona State University.