Association of Progressive Rental Organizations

Rent-A-Center pulling AcceptanceNow kiosks from Conn’s

image001PLANO, Texas — Rent-A-Center’s AcceptanceNow division will not renew its underperforming rent-to-own business deal with Conn’s and will close all 115 of its kiosks in the Conn’s stores in June. The quality and performance of “ANow” customer accounts originating from Conn’s stores have “consistently underperformed compared to the rest of its ANow portfolio in terms of delinquencies, losses and product returns,” Rent-A-Center said, explaining the reason for terminating the referral agreement with The Woodlands, Texas-based, electronics, appliance and home furnishings retailer. “These accounts were cash flow negative and produced higher-than-average volume of returns, which were generally absorbed by Rent-A-Center’s core stores located in those associated areas, additionally resulting in an adverse impact of inventory levels in these core stores,” Rent-A-Center said. It noted the Conn’s credit policies through its company-owned secondary financing operation “is unique” compared to its other retail partners and impacted the underperformance. “We expect these closures will result in an immediate improvement in cash flow in the ANow business beginning in June and an improvement in ANow’s return on investment for the remainder of 2017,” Rent-A-Center interim CEO Mark Speese said in a release. “We thank Conns for their partnership and wish them well in the future.” The ANow kiosks Conn’s stores will cease operations June 6. Existing accounts under the Conns agreement will be merged into and managed by existing ANow or core U.S. locations. Speese noted the company recently announced strategic initiatives it was taking to reposition the company for long-term growth and profitability and said the termination decision “advances our goal,” as renewing was not in the best interest of the company and our shareholder. But the company added that it remains focused on growing ANow and doesn’t expect to terminate any of its other retail partnerships. “We remain focused on achieving our mission to improve our customers’ quality of life by providing the opportunity to obtain ownership of merchandise at the retail stores they want to shop in,” said Steve McKinley, vice president sales, client relations for AcceptanceNow. “ANow is dedicated to providing a great customer experience with our retail partners through our staffed kiosk option which delivers five to 10 times the volume of approvals than any other model in this space. We remain committed to working with our current and future partners where the ANow RTO alternative provides a win for the customers, our partners and for the company.” A Conn’s spokesperson told Furniture Today it was declining comment until after it releases fiscal fourth quarter earning April 4. Source: FurnitureToday

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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.