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Aaron's Corporate Profile

Aarons

 

NAIC Rated: Investment Grade 2

 

Current Annual Revenue: $2.2 billion
Current Gross Profit: $1.8 billion
Current Annual Net Income: $173 million
2012 Fiscal Yr. Revenue Growth: 9.9%

Aaron’s, Inc. (NYSE: AAN) is a vertically integrated, leading retailer focused on the lease ownership, lease, and sale of consumer products such as computers, appliances, furniture, and accessories. As of 2012, Aaron’s had 2,073 owned and franchised stores in 48 states and Canada, 11,900 employees, and over $2.22B in yearly revenue, up from $1.88B in 2010. Typically, the rent-to-own transaction takes place through weekly or monthly transactions over 1–2 years and is popular amongst lower-middle-income consumers who have a temporary need, wish to test out a product or brand, cannot qualify under typical financing programs, or who have sufficient credit but do not want to add debt. This is not considered a credit installment contract, and customers may return the product or buy it outright, generally at any time. Aaron’s differentiates itself by utilizing larger stores, offering a wider merchandise selection, and delivering lower costs through integrated manufacturing. Aaron’s believes that the reduction in small-box consumer-goods retailers has provided an opportunity for the industry to grow the subset of the population currently targeted by rent-to-own retailers.

 

Written By: Staff




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