Hertz Rentals Might Come to Walgreens, Lowe’s

by William White | June 27, 2013 11:37 am

Hertz Rentals Might Come to Walgreens, Lowe’s

Hertz185 Hertz Rentals Might Come to Walgreens, Lowes [1]Hertz Global HoldingsĀ (HTZ[2]) is looking to expand its car-rental business beyond airports.

Hertz CEO Mark Frissora told Bloomberg that the company wants to have 12,000 neighborhood locations[3] in the next few years, as compared to its current 2,600 locations.

The expansion will include Hertz kiosks being placed within the parking lots of various retailers, such as Lowe’s (LOW[4]) and Walgreen (WAG[5]). The cars will be maintained and cleaned by a mobile Hertz crew and retailers will be paid part of the revenue, Bloomberg reports.

The report comes just days after Hertz announced it was launching a new “Dream Cars” service, where the company plans to rent Porsches, Ferraris and other performance cars for thousands of dollars a day.

HTZ shares were up 2% as of writing Thursday, continuing a 50% year-to-date run.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2012/11/Hertz185.jpg
  2. HTZ: http://studio-5.financialcontent.com/investplace/quote?Symbol=HTZ
  3. 12,000 neighborhood locations: http://www.bloomberg.com/news/2013-06-26/hertz-ramps-up-enterprise-attack-with-lowe-s-walgreen-kiosks.html
  4. LOW: http://studio-5.financialcontent.com/investplace/quote?Symbol=LOW
  5. WAG: http://studio-5.financialcontent.com/investplace/quote?Symbol=WAG

Source URL: http://investorplace.com/2013/06/hertz-rentals-might-come-to-walgreens-lowes/
Short URL: http://invstplc.com/1nwdGyn