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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 (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.
The Aaron's Company (NYSE: AAN) has renewed its partnership with Boys & Girls Clubs of America for 20 months with an $800,000 commitment, totaling $10 million since 2015. This partnership aims to support teen recruitment and retention while implementing a Teen Mental Health First Aid program. The renewal includes five additional teen center makeovers through 2023, highlighting Aaron's ongoing commitment to community support. The company has already completed 48 makeovers, enhancing environments for youth in various cities across the U.S.
The Aaron's Company, Inc. (NYSE: AAN), a leader in lease-to-own solutions, will be presenting at the Southwest IDEAS Investor Conference on November 17, 2021, in Dallas, TX. CEO Douglas A. Lindsay and CFO C. Kelly Wall will address investors starting at 9:30 a.m. CT. The presentation will also be available for live streaming on the conference's official website and the investor relations section of Aaron's website, www.investor.aarons.com.
The Aaron's Company (NYSE: AAN) announced a quarterly cash dividend of $0.10 per share, set to be paid on January 4, 2022. Shareholders of record as of December 16, 2021 will be eligible for this payment. Aaron's operates around 1,300 stores across the U.S. and Canada, providing lease-to-own and purchase solutions for furniture and electronics, both in-store and online.
The Aaron's Company (NYSE: AAN) reported a 2.5% increase in total revenues for Q3 2021, totaling $452.2 million. Net income was $24.3 million, down from $32.6 million year-on-year, with Adjusted EBITDA of $53.6 million, a 16.6% decrease from Q3 2020. The company raised its 2021 revenue outlook to between $1.820 billion and $1.830 billion. E-commerce revenues grew by 13.3%, now accounting for 14.3% of lease revenues. Share repurchases totaled $37.5 million in the quarter, with a quarterly dividend of $0.10 per share declared and paid.
The Aaron's Company, Inc. (NYSE: AAN) has announced a conference call scheduled for October 26, 2021, at 8:30 a.m. ET, to discuss its third-quarter 2021 financial results. The results will be released prior to market opening on the same day. CEO Douglas A. Lindsay and CFO C. Kelly Wall will lead the call, which can be accessed by dialing 1-844-200-6205 or through the company's investor relations website. Aaron's, a technology-enabled provider of lease-to-own solutions, operates approximately 1,300 stores in the U.S. and Canada, alongside its online platform.
The Aaron's Company (NYSE: AAN) partnered with Warrick Dunn Charities to furnish homes for two first-time homeowners in Dacula, GA, and Roseville, MI. As part of the 'Homes for the Holidays' program, Aaron's contributed $10,000 to each home, easing the financial burden on single parents achieving homeownership. Since 1997, this initiative has helped 194 single parents nationwide. The families received a $5,000 down-payment assistance check from Dunn's charity, along with fully furnished homes, highlighting Aaron's commitment to community support.
ProgCentral has been launched by Progressive Leasing, enhancing retailers' self-management capabilities in lease-to-own transactions. This new platform streamlines the lease-purchase process, providing improved user experience and security features. Merchants can transfer approved leases within the same retail chain, allowing transactions to start online and finish in-store. The rollout to e-commerce and brick-and-mortar stores is set to complete by Q1 2022. ProgCentral is designed to improve efficiency and conversion rates while benefiting customers seeking flexible payment options.
The Aaron's Company (NYSE: AAN) will webcast its 2021 Annual Meeting of Shareholders on August 25, 2021, at 9:00 a.m. local time from Atlanta, Georgia. The webcast is accessible via the Investor Relations page on Aaron's website. It will allow investors to listen to the meeting, although participation is not permitted. Aaron's specializes in lease-to-own and purchase solutions, operating approximately 1,300 stores across 47 states and Canada, and offers products through its e-commerce platform.
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