RTO consolidating under easyhome
By Furniture Today Staff -- Furniture Today, January 27, 2003
Edmonton, Alberta — Leading Canadian rent-to-own retailer RTO Enterprises plans to consolidate its six banners under the easyhome nameplate in what it said is an effort to transform itself from a group of fragmented local businesses into a dominant Canadian national brand.
RTO already has 20 easyhome stores and operates 116 others under the names First Choice Rent to Own, Louer Pour Acheter, North American TV & Appliance Rental, Rentown and RTO Centers.
As part of the rebranding, stores will be remodeled and upgraded with more modern, brighter fixtures. New signage will focus on people and lifestyles and will feature the core colors of pumpkin, blue, green and white. The company expects to complete the conversion program by May 3.
"The change to easyhome is more than a name and a new look," said David Ingram, president and chief executive officer. "It is a promise to customers that reflects our understanding of their needs. We are committed to surpassing their expectations by giving them a better shopping environment, better product selection and a better-trained staff."
With the transition to easyhome, the company said it expects to meet its objectives of attracting more customers and having more items on rent for longer periods.
A 10-month test of the easyhome concept enabled the rebranded stores to boost monthly rental revenue by 30% compared with a 7.5% increase in the company's other stores.
The rebranding is the latest of several initiatives put in place since RTO's current management team came on board two years ago. The company said improvements to management systems and controls, employee training, merchandise and marketing programs have helped it rebound from a C$9.1 million pretax loss in 2000 to a C$2.7 million pretax profit in the first nine months of 2002.
