Type Public Founder R. Charles Loudermilk Revenue 3.179 billion USD (2015) | Industry Furniture Area served North America | |
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Traded as NYSE: AAN
S&P 400 Component Founded June 19, 1955; 61 years ago (1955-06-19) CEO John W. Robinson III (15 Apr 2014–) Headquarters Atlanta, Georgia, United States Stock price AAN (NYSE) US$ 27.34 +0.16 (+0.59%)27 Feb, 4:02 PM GMT-5 - Disclaimer Subsidiaries Aaron Investment Company, Aaron Rents Inc Puerto Rico, Aaron Rents Canada, ULC Profiles | ||
Aaron's, Inc. is a lease-to-own retailer. The company focuses on leases and retail sales of furniture, electronics, appliances, and computers. In 2014, Aaron's completed the acquisition Progressive Finance, increasing their market share in both the traditional rent-to-own (RTO) industry and the emerging virtual rent-to-own (RTO) space [no citation]. The acquisition supports the Company's strategy to address credit-challenged customers' changing needs for acquiring home furniture, electronics and appliances as the consumer population leans more toward a multi-channel acquisition of goods and services.
Contents
In April 2016 Aaron's, Inc. set the Guinness World Record for the largest "game" of tumbling mattress dominoes. This game was set up using over 1,000 people and mattresses.
Locations
As of 31 December 2014, Aaron's, Inc. has 2,108 stores: 1,326 Company-operated stores and 782 independently owned and operated franchised stores in 48 states, the District of Columbia, and Canada.
History
Aaron Rents, Inc. was founded by R. Charles Loudermilk, Sr. in 1955.
In September 2008, Aaron's announced the sale of its Corporate Furnishings division to CORT Business Services, part of Berkshire Hathaway. Aaron's Corporate Furnishings division, which operated 47 stores, recorded revenues of approximately $99 million in 2007. Within the last quarter of 2012 Aaron's opened its 2000th store. In November 2014 Aaron’s announced that John W. Robinson III will take over the CEO position of the company from Ronald W. Allen.
In 2014, Aaron’s announced plans to reshape its core business by focusing on same store revenue growth, enhancing Aaron's online platform, driving cost efficiencies, moderating new store growth, and strengthening the franchise network. The Company's online strategy included the rollout of an e-commerce platform in 2015.
Controversy
In February 2013, customers sued Aaron's for allegedly using spyware on rented computers to send over 185,000 emails to the rental company, including customers' Social Security numbers, passwords and captured keystrokes, as well as explicit images. Aaron's, Inc. officials had previously said that the company had not installed the spyware, and individual franchisees were responsible. In October 2013, Aaron's agreed to a settlement with the Federal Trade Commission that limited how it used monitoring technology and ordered it to delete customer information that had been improperly collected.