AARON'S REACHES MILESTONE WITH 100th "GENNEXT" STORE OPENING

Rhea-AI Summary

The Aaron's Company (NYSE: AAN) recently celebrated the opening of its 100th GenNext store in Largo, Florida. This milestone is part of a nationwide rollout aimed at enhancing the customer experience in the lease-purchase sector. GenNext locations are reported to have a 20% sales increase compared to traditional stores, featuring modern designs and improved technology. In addition to the store opening, Aaron's donated $10,000 to local Boys & Girls Clubs, reinforcing its commitment to community partnerships.

Positive

• 100th GenNext store opened in Largo, Florida.
• Over 20% increase in sales across GenNext locations compared to traditional stores.
• Rapid expansion of GenNext concept with more than doubled locations in 2021.
• Investment in community with a $10,000 donation to local Boys & Girls Clubs.

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• None.

ATLANTA, Jan. 5, 2022 /PRNewswire/ -- The Aaron's Company, Inc. (NYSE: AAN), a leading omnichannel provider of lease-purchase solutions, has reached a significant milestone in its nationwide rollout of the new GenNext concept with its 100th location opening in Largo, Fla. 

GenNext stores feature the best new designs including larger, brighter, and easier-to-navigate main showrooms stocked only with new furniture, appliances, and electronics. The concept also includes new technology related to decisioning, expanded assortment and payment systems, providing a best-in-class experience for shoppers. In their initial year, GenNext locations nationwide are collectively experiencing more than a 20% increase in sales over the traditional Aaron's stores.

After testing and opening 47 GenNext stores through the end of 2020, Aaron's rapidly expanded the innovative concept in 2021, more than doubling the total number of locations.

"As we bring our GenNext stores to communities all across the country, we continue to receive positive feedback from our customers," said Douglas Lindsay, CEO of The Aaron's Company. "We set out to transform the rent-to-own industry, and reaching this pivotal milestone is proof we are making significant progress in our mission to fundamentally change the customer experience in this category."

In addition to bringing the 100th "GenNext" upgrade to Largo, Aaron's has also made an investment in the local community by donating $10,000 to the Boys & Girls Clubs of the Suncoast. The money will be used by the Ridgeview Unit in Largo, specifically supporting its efforts to provide youth with access to technology and workforce readiness programming. Aaron's has been a long-time partner with Boys & Girls Clubs of America (BGCA), and recently announced an 18-month, $800,000 extension to its BGCA initiative through the summer of 2023. This is in addition to $10 million the Aaron's Foundation has committed to the national youth development organization since 2015.

"We are thrilled with the impact our long-term relationship with the Boys & Girls Clubs of America has had on teens nationwide, so providing direct assistance to the Boys & Girls Clubs of the Suncoast was a perfect way to reinforce our belief in the organization's mission and celebrate our "GenNext" milestone in the Tampa Bay community," added Lindsay.

For more information on Aaron's and The Aaron's Company's partnership with Boys & Girls Clubs of America and other charitable initiatives, please visit aarons.com/aarons-gives.

About The Aaron's Company
Headquartered in Atlanta, The Aaron's Company, Inc. (NYSE: AAN) is a leading omnichannel provider of lease-purchase solutions. Aaron's engages in direct-to-consumer sales and lease ownership of furniture, appliances, consumer electronics and accessories through its approximately 1,300 company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com. For more information, visit Aarons.com or investor.aarons.com.  

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SOURCE The Aaron's Company, Inc.

FAQ

What is the significance of Aaron's 100th GenNext store opening?

The 100th GenNext store opening marks a key milestone in Aaron's expansion strategy, improving the customer experience in the lease-purchase market.

How much have GenNext stores increased in sales compared to traditional stores?

GenNext stores have experienced over a 20% increase in sales compared to traditional Aaron's locations.

When was the 100th GenNext store opened?

The 100th GenNext store was opened on January 5, 2022.

What community initiative did Aaron's support alongside the store opening?

Aaron's donated $10,000 to the Boys & Girls Clubs of the Suncoast to support youth technology and workforce readiness programs.

What is the stock symbol for The Aaron's Company?

The stock symbol for The Aaron's Company is AAN.