Cash America 2004 Annual Report Download - page 7

20 Years of Advances
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Deployed first-ever
fully automatic check
cashing machine.
1997
Opened 400th
pawnshop; servicing
customers in 15 states and
2 European countries.
1998 On March 28, a tornado
strikes Field Support Center,
rendering it uninhabitable and
forcing a move to temporary
facilities.
2000
Returned to the remodeled
Cash America building on same site
in downtown Fort Worth, Texas.
2001
Began deployment of
Cash Advance product into
pawn locations.
2000 Opened first stand-
alone location branded
Cash America Payday
Advance.
2002
We’ve฀expanded฀the฀Cashland฀chain฀that฀
operates฀in฀Ohio,฀Michigan,฀Indiana฀and฀
Kentucky฀to฀175฀locations.฀฀In฀all,฀72฀new฀
cash฀advance฀locations฀were฀established฀
in฀2004.฀
฀ In฀2004,฀we฀also฀acquired฀32฀
cash฀advance฀locations฀in฀Southern฀
California,฀mostly฀in฀the฀Los฀Angeles฀area.฀
Previously฀owned฀and฀operated฀by฀two฀
separate฀companies,฀these฀locations฀
will฀be฀branded฀using฀the฀Cash฀America฀
name.฀It’s฀an฀important฀new฀geographic฀
area฀for฀Cash฀America,฀an฀area฀with฀
strong฀growth฀potential.฀
฀ Cash฀America฀has฀expanded฀฀
its฀traditional฀pawn฀business฀in฀2004฀฀
as฀well.฀Our฀goal฀to฀concentrate฀unit฀
expansion฀on฀specific,฀careful฀฀
market฀growth฀led฀to฀the฀acquisition฀
of฀the฀SuperPawn฀chain฀this฀
year.฀It฀is฀a฀41-store฀chain฀operating฀
in฀Nevada,฀Arizona,฀Washington฀฀
and฀California.฀Through฀this฀
acquisition,฀we’ll฀be฀able฀to฀introduce฀
our฀cash฀advance฀products฀to฀฀
new฀markets฀while฀at฀the฀same฀time฀
expanding฀and฀strengthening฀our฀
traditional฀pawnshop฀business฀in฀฀
four฀new฀states.฀
“
Market leadership
through an attitude of
customer service first
and foremost is apparent
with everyone at
Cash America.”
10 11
Composition of Net Revenue
Fiscal Year 2004
35%฀Pawn฀Service฀
Charges
31%฀Profit฀on฀฀
Merchandise
31%฀Short-term฀
Cash฀Advances
3%฀Check฀฀
Cashing/Other
Founder,
Jack Daugherty, retires as
Chief Executive Officer,
but remains as Chairman
of the Board of Directors.
2000
Completed the acquisi-
tion of a 40-store chain of
pawnshops–Doc Hollidayʼs
Pawnbrokers & Jewelers, Inc.
1998
Number of Cash Advance
Locations at Year-End
2002 2003 2004
300
200
100
0
253
2
154