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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 host a conference call on April 27, 2021, at 8:30 a.m. ET to discuss its first quarter 2021 financial results, which will be released before the market opens on that day. CEO Douglas A. Lindsay and CFO C. Kelly Wall will lead the call. Interested parties can join by calling 1-833-979-2858 for domestic participants or 1-236-714-2899 for international participants. The event will also be available via the company's investor relations website, where past calls will be archived for playback.
The Aaron's Company (NYSE: AAN) partnered with former NFL star Warrick Dunn to provide $20,000 in home furnishings for two families in the 'Homes for the Holidays' program in Tallahassee, Florida. This initiative supports single parents achieving first-time homeownership by alleviating financial burdens. The program has now helped 188 families since its inception. CEO Douglas Lindsay emphasized Aaron's commitment to assisting deserving families. The program also received contributions from local organizations for additional support.
The Aaron's Company (NYSE: AAN) announced a $150 million share repurchase program for its common stock, authorized by the Board of Directors, which will expire on December 31, 2023. Additionally, the company declared a cash dividend of $0.10 per share, the first since its spin-off from its former parent on November 30, 2020. The dividend will be paid on April 6, 2021 to shareholders of record by March 18, 2021, representing an initial annual yield of approximately 1.8% based on the stock's closing price on March 2, 2021.
The Aaron's Company (NYSE: AAN) reported its financial results for 2020, highlighting revenues of $1.735 billion, a 2.8% decline from 2019. However, non-GAAP diluted EPS increased by 43.8% to $3.02. Adjusted EBITDA rose 26.4% to $208.9 million, with a margin of 12%. The fourth quarter generated $430 million in revenue, down 1.1%, but same-store revenues grew by 3.4%. The company forecasts 2021 revenues between $1.65 billion and $1.70 billion and adjusted EBITDA of $155 million to $170 million, contingent on economic conditions.
The Aaron's Company, Inc. (NYSE: AAN) will host a conference call on February 23, 2021, at 8:30 a.m. ET to discuss its fourth quarter 2020 financial results, expected to be released before market opening. CEO Douglas Lindsay and CFO Kelly Wall will lead the call. Investors can join by dialing 1-833-979-2858 or accessing the call via the investor relations website. Known for lease-to-own solutions and e-commerce, Aaron's operates approximately 1,300 stores across the U.S. and Canada.
The Aaron's Company (NYSE: AAN) announced a $25,000 donation to Mission 22, a nonprofit supporting veterans' mental health. This initiative aims to combat veteran suicide, highlighting the urgent need for mental wellness programs. CEO Douglas Lindsay emphasized the importance of supporting veterans returning home, while Senior Director Karen Schukle noted that the donation reflects the commitment of the company's diverse employee groups. The contribution was made in recognition of National Caregivers Month and the International Day of Persons with Disabilities.
The Aaron's Company (NYSE: AAN) partnered with former NFL stars Warrick Dunn and Kurt Warner in a $50,000 initiative called 'Homes for the Holidays' to assist single parents in achieving homeownership. This fall, five surprise presentations in locations like Denver and Austell provided fully furnished homes to families, alleviating financial stress. Aaron's has collaborated with Dunn Charities for over 16 years, enhancing lives by providing furniture and essentials for new homes. The program has rewarded 186 single parents nationwide since its inception, highlighting Aaron's commitment to community support.
The Aaron's Company (NYSE: AAN) has donated $10,000 to the Westside Future Fund to support affordable housing initiatives in Atlanta. This contribution aims to aid impoverished communities, particularly in light of increased food insecurity due to the COVID-19 pandemic. The Westside Future Fund targets neighborhoods where 52% of residents live below the poverty line. The donation was facilitated by Aaron's Black Leadership Exchange (ABLE), which promotes personal and professional development for Black team members while fostering community connections.
The Aaron's Company, Inc. (NYSE: AAN) has successfully completed its spin-off from its former parent, becoming an independent publicly-traded entity on the NYSE. With approximately 1,400 stores across 47 states and Canada, Aaron's focuses on providing lease-purchase solutions for furniture, appliances, and electronics. According to CEO Douglas Lindsay, the company aims to drive long-term value through its low payment options and strong lease approval rates. Shareholders as of November 27, 2020, received one share of Aaron's for every two shares of the parent company held.
Aaron's Holdings Company, Inc. (NYSE: AAN) has announced a quarterly cash dividend of $0.045 per share, set for payment on November 20, 2020. This marks a 12.5% increase from the previous dividend of $0.04 per share, highlighting the company's commitment to returning value to shareholders. This dividend declaration is notable as it represents the eighteenth consecutive year the company has increased its dividend. Aaron's operates in the lease-purchase sector through various retail and online platforms.
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