Cash America 2000 Annual Report Download - page 10

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w e re to reposition and lower levels of
m e r chandise available for disposition and
ease unit expansion. While management
anticipated that these activities would result in lower
y e a r- o v e r-year earnings, they were also designed to
position Cash America for renewed loan and market
s h a r e growth in fiscal 2001. The success of these
strategic initiatives is evidenced by the year- e n d
domestic loan and merchandise mix which is balanced
to pursue loan growth in the coming year from either
the weakness and disappearance of
competitors or a softening of the stro n g
economic environment in the United States.
In addition, Cash America tested a new
s h o rt - t e r m loan product during fiscal 1999
for introduction in fiscal 2000. This new
loan product, re f e rred to as small consumer
Denver (1)
Tulsa (6)
Oklahoma City (14)
Dallas/ Fort Worth (43)
Lubbock (3)
Austin (22)
San Antonio (19)
El Paso (11)
Corpus Christi (5)
Houston (44)
Baton Rouge (3)
Mobile (4)
Memphis (23)
Nashville (5)
Atlanta (14)
Kansas City (11)
Fort Wayne (3)
Indianapolis (9)
Louisville (9)
Charlotte (7)
Savannah (5)
Charleston (4)
Orlando (14)
Jacksonville (10)
Midland/
Odessa (7)
New Orleans (9)
St. Louis (5)
Greensbor o
Winston Salem (2)
Tampa/
St. Petersburg (15)
Cincinnati (6)
Birmingham (4)
Pensacola (3)
Salt Lake City (7)
Colorado Springs (3)
Pueblo
Chicago (7)
McAllen/ Brownsville (2)
Loredo (4)
Shreveport (2)
Tyler (2)
Killeen (3)
Waco (2)
Greenville (3)
West Palm Beach (5)
Ft. Lauderdale (2)
Miami (2)
8
United States. Collateral from unredeemed loans
originating overseas can be sold at public auction,
eliminating the need for on-site disposition
a c t i v i t i e s .
Lending Operations Review
Fiscal 2000 finished a cycle unfamiliar to
traditional pawn lenders. Long-term sustained
economic pro s p e r i t y, lower gold prices, and innovations
in consumer electronics products that led to rapid
changes in their value, all contributed to
a gradual weakening in the loan
e n v i ronment. Cash America was the first
to recognize the transition and
announced its approach in response to
these trends in mid-1999. The initial
tactics to deal with this new enviro n m e n t
Wichita
Daytona Beach (2)
Monroe
Omaha