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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.
The Aaron's Company, Inc. (NYSE: AAN) will attend the Stephens Annual Investment Conference in Nashville, TN, on November 16, 2022, at 10 a.m. Eastern Time. CEO Douglas A. Lindsay, President Steve Olsen, and CFO C. Kelly Wall will engage in a fireside chat hosted by Stephens Bank Analyst Vincent Caintic. Investors can access a live audio webcast of the event at this link, and it will be archived on the company's investor relations website. Aaron's is a leader in lease-to-own and retail purchase solutions for home goods.
The Aaron's Company, Inc. (NYSE: AAN) reported its third quarter 2022 financial results with revenues of $593.4 million, a 31.2% increase attributed to the BrandsMart acquisition. However, the company experienced a net loss of $15.6 million with an Adjusted EBITDA decrease of 34.3% to $35.2 million. Same-store revenues declined by 7.7%, while e-commerce revenue grew 11.1%. The firm also opened its 200th GenNext location.
The Aaron's Company, Inc. (NYSE: AAN) will host a conference call on October 25, 2022, at 8:30 a.m. Eastern Time to discuss its third quarter 2022 financial results. The earnings release will be issued after the market closes on October 24, 2022. CEO Douglas A. Lindsay, President Steve Olsen, and CFO C. Kelly Wall will lead the discussion. Investors can join the call by dialing 1-844-200-6205 or 1-929-526-1599 for international access, using access code 405360.
The Aaron's Company, Inc. (NYSE: AAN) announced a quarterly cash dividend of $0.1125 per share, payable on October 4, 2022, to shareholders of record as of September 15, 2022. This declaration reflects the company’s ongoing commitment to return value to its shareholders while maintaining a focus on its omnichannel lease-to-own and retail solutions across approximately 1,300 locations in North America.
The Aaron's Company reported consolidated revenues of $610.4 million for Q2 2022, a 30.6% increase due to the BrandsMart acquisition. However, net losses were $5.3 million compared to net earnings of $33.0 million in Q2 2021, with losses per share at $0.17. Adjusted EBITDA dropped 26.4% to $48.1 million, impacted by high inflation affecting customer demand. The Company updated its full-year guidance, projecting revenues between $2.19 billion and $2.27 billion, and adjusted EBITDA between $150 million and $170 million.
The Aaron's Company, Inc. (NYSE: AAN) will host a conference call on July 26, 2022, at 8:30 a.m. ET to discuss its Q2 2022 financial results, which will be released before the market opens. CEO Douglas A. Lindsay and CFO C. Kelly Wall will lead the call. Participants can call 1-844-200-6205 (domestic) or 1-929-526-1599 (international) to join, using access code 336133. The webcast will also be available on the Company’s investor relations website for delayed playback.
The Aaron's Company, Inc. (NYSE: AAN) has announced a quarterly cash dividend of $0.1125 per share, payable on July 5, 2022. Shareholders of record as of June 16, 2022 will receive this dividend. As a leading omnichannel provider of lease-to-own solutions, Aaron's operates in 47 states and Canada, offering a range of home goods through both physical stores and e-commerce. The company aims to enhance shareholder value through its regular dividend payments, reflecting its financial stability.
The Aaron's Company (NYSE: AAN) will host its 2022 Annual Meeting of Shareholders via webcast on May 4, 2022, at 10:00 a.m. Eastern Time. The meeting will take place in Atlanta, Georgia, as outlined in the proxy statement dated March 24, 2022. Interested parties can access the webcast through the Investor Relations page of Aaron's website. The event will allow listeners to observe but not participate.
Headquartered in Atlanta, Aaron's is a leading provider of lease-to-own solutions with approximately 1,300 stores across the U.S. and Canada.
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