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The Aaron's Company, Inc. (NYSE: AAN) is a premier specialty retailer and omnichannel provider of lease-to-own and retail purchase solutions. Headquartered in Atlanta, Aaron's operates approximately 1,220 company-operated and franchised stores across 47 states in the U.S. and Canada, along with a robust e-commerce platform. Founded in 1955 and publicly traded since 1982, Aaron's serves moderate-income consumers by offering affordable payment plans and quality merchandise, including furniture, electronics, appliances, and accessories.
Aaron's operates through two main business segments: Aaron's Business and BrandsMart. Aaron's Business provides a direct-to-consumer lease-to-own solution through its extensive network of stores and online channels. The recent GenNext store initiative is transforming the in-store customer experience with larger showrooms, updated layouts, and enhanced technology-enabled shopping and checkout processes. As of 2024, Aaron's has opened 249 GenNext stores.
In April 2022, Aaron's acquired BrandsMart U.S.A., one of the leading appliance and electronics retailers with 11 stores in Florida and Georgia. This acquisition enhances Aaron's market presence and offers customers a wide assortment of products at competitive prices. Additionally, BrandsMart Leasing provides lease-to-own options to BrandsMart U.S.A. customers, further expanding Aaron's reach.
Aaron's financial performance demonstrates its resilience and strategic growth. In 2023, Aaron's reported a revenue of $2.14 billion, despite facing market challenges. The Company continues to optimize its cost structure and improve its lease decision-making processes. Aaron's is committed to returning capital to shareholders, evidenced by its regular quarterly cash dividends.
With a dedicated leadership team, Aaron's is poised for continued growth and innovation. The Company also emphasizes community involvement, supporting initiatives like the Boys and Girls Clubs of Greater Augusta.
For more information about Aaron's, visit investor.aarons.com, aarons.com, and brandsmartusa.com.
Aaron's Holdings Company (NYSE: AAN) reported strong Q3 2020 results, with consolidated revenues of $1.05 billion, a 9.2% increase year-over-year. Net earnings surged to $109.3 million, up from $39.8 million in Q3 2019. Adjusted EBITDA rose 104.8% to $178.3 million, representing 16.9% of revenues. Progressive Leasing revenues increased 13.7%, while Aaron's Business revenues rose 3.4%. The company expects Q4 revenues between $1.025 billion and $1.045 billion, projecting Non-GAAP EPS of $1.20 to $1.30. Cash balance improved significantly to $470.2 million.
Aaron's, Inc. (NYSE: AAN) partnered with Warrick Dunn and Habitat for Humanity to furnish a unique home for a single mother and her six children in Largo, Florida. This initiative is part of the "Homes for the Holidays" program, which aims to support first-time homeowners. The furnished home features accommodations for special needs. Aaron's has a long-standing partnership with Warrick Dunn Charities and has supported over 182 families through this initiative since its inception. The company emphasizes its commitment to aiding families in achieving homeownership.
Aaron's, Inc. (NYSE: AAN), a leader in omnichannel lease-purchase solutions, is set to release its third quarter 2020 financial results on October 29, 2020, prior to market opening. A conference call will take place at 10:30 a.m. ET, hosted by CEO John W. Robinson III and Interim CFO Kelly Wall. Investors can join the call by dialing 1-844-802-2444 or accessing it via the investor relations website. Aaron's operates approximately 1,400 stores across 47 states and Canada, offering furniture and home appliances through both retail and e-commerce platforms.
Aaron's, Inc. (NYSE: AAN) partnered with former NFL star Warrick Dunn to furnish homes for four families as part of the "Homes for the Holidays" initiative. This summer effort brings the total to 181 homes provided for single parents over nearly 23 years. Aaron's committed $40,000 alongside Dunn Charities to support first-time homeowners by covering furnishing costs. Celebrations took place in Pleasantville, Iowa; Snellville, Georgia; Spartanburg, South Carolina; and Concord, North Carolina, recognizing families overcoming challenges.
Aaron's, Inc. (NYSE: AAN) has updated its outlook for Q3 2020, citing strong customer payment activity and lease portfolio performance. Revenue expectations range between $1.00 billion and $1.02 billion, with adjusted EBITDA projected at $140 million to $150 million. Non-GAAP earnings per share are anticipated to be between $1.40 and $1.50. Progressive Leasing expects revenue of $575 million to $585 million, while the Aaron's Business projects $415 million to $425 million in revenue.
Aaron's, Inc. (NYSE: AAN) has donated new laptops and accessories to nearly 50 graduates from Boys & Girls Clubs in Oklahoma and Connecticut, contributing approximately $50,000 as part of COVID-19 relief funding. This initiative is part of a three-year, $5 million partnership with the Boys & Girls Clubs of America, aimed at enhancing the leadership skills of teens. The laptops will assist students in their transition to college, which may be partially or fully virtual due to the pandemic. Prior donations of over 100 laptops were made to support virtual learning in areas like Atlanta and Salt Lake City.
Aaron's, Inc. (NYSE: AAN), a leading provider of lease-purchase solutions, has declared a quarterly cash dividend of $0.04 per share. This dividend will be payable on October 6, 2020, to shareholders who are on record as of September 17, 2020. The company operates through over 20,000 retail locations across 46 states and offers products via approximately 1,400 stores and its e-commerce platform, Aarons.com. With subsidiaries like Progressive Leasing and Vive Financial, Aaron's maintains a strong presence in the lease-to-own market.
Aaron's, Inc. (NYSE: AAN), a leader in lease-purchase solutions, plans to separate into two independent companies: Progressive Leasing and Aaron's Business, expected to complete by year-end 2020. This tax-free spin-off aims to enhance shareholder value and operational focus. Progressive will target continued growth with approximately $2.2 billion revenue, while Aaron's will manage around $1.8 billion in revenue with 1,400 stores and an e-commerce platform. Leadership changes are announced, with key executives continuing in their roles post-separation.
Aaron's, Inc. (NYSE: AAN) reported strong second-quarter financial results for 2020, with consolidated revenues reaching $1.03 billion, a 6.4% increase from the previous year. Net earnings also rose to $68.4 million, up from $42.7 million in Q2 2019. Adjusted EBITDA grew 20.9% to $129.8 million. The company maintained a solid cash position, ending Q2 with $313.1 million in cash. However, revenue from the Aaron's Business segment declined 2.8% due to store closures amidst the COVID-19 pandemic. The company anticipates Q3 revenues between $950 million and $975 million.
Aaron's, Inc. (NYSE: AAN) will host a conference call on July 29, 2020, at 8:30 a.m. ET to discuss its second quarter 2020 financial results, to be released before market opening. CEO John W. Robinson III and CFO Steven A. Michaels will lead the call. Interested parties can join by dialing 1-844-802-2444 (international callers at 1-412-317-5137) or via the company's investor relations website. Aaron's, a top omnichannel lease-purchase provider, operates around 1,400 stores across the U.S. and Canada and has a robust e-commerce platform.
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