Aaron's, Inc.

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Aaron's, Inc.
Type Public
Traded as NYSEAAN
Industry Furniture
Founded 1955
Founders R. Charles Loudermilk
Headquarters Atlanta, Georgia, USA
Area served North America
Key people R. Charles Loudermilk
(Chairman)
Gilbert L. Danielson
(CEO, interim)
Products Furniture rental
Rent-to-own
Revenue

Increase $ 2.02 billion (FY 2011)

[1]
Operating income Increase $ 183.3 million (FY 2011)[1]
Net income Decrease $ 113.7 million (FY 2011)[1]
Total assets Increase $ 1.7 billion (FY 2011)[1]
Total equity Decrease $ 976.5 million (FY 2011)[1]
Employees 11200 (December 2011)[1]
Subsidiaries Aaron's
Aaron's Corporate Furnishings
Rimco
Website 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.

Locations[edit]

As of 31 December 2012, Aaron's, Inc. has 2,073 stores: 1,324 Company-operated stores in 29 states and 749 independently owned franchised stores in 48 states and Canada.[2] broken down of Company-operated stores as follows:

  • 1,246 Aaron’s Sales & Lease Ownership stores, includes 19 Company-operated RIMCO stores
  • 78 HomeSmart stores

History[edit]

Aaron Rents, Inc. was founded by R. Charles Loudermilk, Sr. in 1955.[3]

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.[4] Within the last quarter of 2012 Aaron's opened its 2000th store. In November of 2014 Aaron’s announced that John W. Robinson III will take over the CEO position of the company from Ronald W. Allen.[5]

Controversy[edit]

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 images including pictures of nude children and people having sex.[6] Aaron's, Inc. officials had previously said that the company had not installed the spyware, and individual franchisees were responsible.[6] In October 2013, Aaron's agreed to a settlement with the Federal Trade Commission that limited how it used monitoring technology and delete customer information that had been improperly collected.[7]

Sponsorships[edit]

References[edit]

  1. ^ a b c d e f "Aaron's, Inc. 2011 Annual Report, Form 10-K, Filing Date Feb 29, 2012". secdatabase.com. Retrieved June 8, 2012. 
  2. ^ 10K SEC Filing
  3. ^ "Aaron Rents, Inc. Changes Name to Aaron's, Inc.". PR Newswire (CCBN/Thomson Reuters). April 14, 2009. 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. 
  4. ^ "Aaron Rents, Inc. Sells Aaron's Corporate Furnishings Division to CORT Business Services". Reuters. 2008-09-15. 
  5. ^ Seward, Christopher. "Aaron’s names John Robinson III as CEO". AJC.com. Retrieved 13 November 2014. 
  6. ^ a b "185,000 spyware emails were sent to Aaron's computers". NBC News. February 28, 2013. Retrieved March 6, 2013. 
  7. ^ Leon Stafford (October 23, 2013). "Rental business Aaron's admits role in spying on customers". Retrieved October 24, 2013. 
  8. ^ http://www.footnoted.com/buried-treasure/the-family-business/aaron-rents-revs-up-the-motor/

References[edit]

External links[edit]