Aaron's, Inc.
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| Type | Public (NYSE: AAN) |
|---|---|
| Industry | Furniture |
| Founded | 1955 |
| Founder(s) | R. Charles Loudermilk |
| Headquarters | Atlanta, GA, USA |
| Area served | North America |
| Key people | R. Charles Loudermilk (Chairman) Ronald W. Allen (President) & (CEO) |
| Products | Furniture rental Rent-to-own |
| Revenue |  US$ 1.494 billion (2007) |
| Operating income | US$ 128.84 million (2007) |
| Net income | US$ 75.82 Million (2007) |
| Total assets | US$ 1.113 billion (2007) |
| Total equity | US$ 673.38 million (2007) |
| Employees | 9,600 (2008) |
| Subsidiaries | Aaron's Aaron's Corporate Furnishings Rimco |
| Website | http://www.aaronsinc.com/ |
Aaron's, Inc. is a lease-to-own retailer. The company focuses on leases and retail sales of furniture, electronics, appliances, and computers. It is divided into three major divisions: sales and lease ownership; corporate furnishings; and manufacturing. The incorporation of manufacturing as well as retailing makes the company vertically integrated.
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[edit] Locations
As of 11 June 2010[update], Aaron's, Inc. has 1723 locations,[citation needed] broken down as follows:
- 1094 company-owned sales and lease ownership stores
- 11 Rimco stores
- Seven franchised Rimco stores
- 599 franchised SALO stores
- 12 Aaron's Office Furniture stores
This includes the first company-owned Canadian store, opened on April 13, 2007 in Windsor, Ontario.[citation needed]
[edit] History
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This section requires expansion. |
Aaron Rents, Inc. was founded by R. Charles Loudermilk, Sr. in 1955.[1]
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, had recorded revenues of approximately $99 million in 2007.[2]
[edit] Sponsorships
- NASCAR racing: Aaron's sponsors the No. 55 "Aaron's Dream Machine," driven by Mark Martin and Michael Waltrip in NASCAR's Sprint Cup Series. They also sponsor Ken Butler III, a decision that has been criticized because he is the son of Bill Butler, Jr, the Chief Operating Officer of Aarons.[3]
- National Hot Rod Association NHRA Racing: Aaron's sponsors Don Schumacher racing in the NHRA Full Throttle Drag Racing Series. They sponsor Funny Car driver Jack Beckman and Top Fuel driver Antron Brown.
- Aaron's Cycling Team - sponsors both elite men's and women's professional cycling teams that compete on the USA Cycling National Racing Calendar[citation needed]
- Football Saturday in the South, a series of pre-season documentaries that are syndicated by Raycom[citation needed]
[edit] References
General references:
Plunkett, Jack W. (December 2007). Plunkett's Retail Industry Almanac 2008. ISBN 1-59392-101-2. http://books.google.com/books?id=z4eZhafKnEcC&pg=PT151&dq=%22Aaron+Rents%22&ei=TeJNSLKLGIegiwGR0InmDQ&sig=iSE01i3MGBtUWV7H8BYHXj8QS1E.
Specific references:
- ^ "Aaron Rents, Inc. Changes Name to Aaron's, Inc.". PR Newswire (CCBN/Thomson Reuters). April 14, 2009. http://phx.corporate-ir.net/phoenix.zhtml?c=104698&p=irol-newsArticle_print&ID=1275980. Retrieved 2011-05-04. "Founded in 1955 by entrepreneur R. Charles Loudermilk, Sr. and headquartered in Atlanta, Aaron's has been publicly traded since 1982."
- ^ "Aaron Rents, Inc. Sells Aaron's Corporate Furnishings Division to CORT Business Services". Reuters. 2008-09-15. http://www.reuters.com/article/pressRelease/idUS104182+15-Sep-2008+PRN20080915.
- ^ http://www.footnoted.com/buried-treasure/the-family-business/aaron-rents-revs-up-the-motor/
[edit] External links
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