Tag Archives: Aaron’s

Aaron’s Allen to Retire

Ron Allen

ATLANTA-Ron Allen, CEO of Aaron’s, will retire on Aug. 31. On that date, the 72-year-old Allen will also leave his post on the retailer’s board of directors. The board has retained Spencer Stuart, an executive recruiting firm, to assist in the search for Allen’s successor. According to an Aaron’s statement, “The search process will includeMore »

Aaron’s Picks MasterCard’s Lockhart for Board

Aaron's

ATLANTA-Gene Lockhart, former president and CEO of MasterCard Worldwide, has been selected to serve on the board of directors of rent-to-own retailer Aaron’s. Lockhart’s appointment to the board goes into effect today. Board member John Schuerholz, president of the Atlanta Braves, is retiring from the board after eight years of service. During his tenure withMore »

Aaron’s Q2 Net Drops 67.1 Percent; COO Buck to Retire

Aaron's

ATLANTA-Huge gains in expenses and in depreciation of lease merchandise offset a strong revenue gain to send Aaron’s second-quarter net income plummeting 67.1 percent, to $8.5 million. Along with releasing its earnings, the lease-to-own retailer issued a separate statement saying that Dave Buck, its chief operating officer, will retire from the company. Buck served forMore »

Aaron’s Lowers Expectations for Q2

Aaron's

ATLANTA-Aaron’s said it is expecting second-quarter revenues to total about $672 million, less than its previous projection of $675 million, and reaffirmed its previously announced plan to close underperforming stores and slim down costs throughout its organization. The retailer said it had reduced its revenue expectations for the quarter, and underscored its cost-cutting initiatives, dueMore »

Aaron’s Promotes Lawrence, Names Salgado in Exec Moves

Sharon Lawrence

ATLANTA-Aaron’s has promoted Sharon Lawrence to vice president of finance and has named Kirby Salgado vice president of merchandising. In her new role, Lawrence oversees the retailer’s finance team. She has succeeded Steve Michaels, who was promoted to vice president of strategic business development last November, prior to his appointment as Aaron’s president, which wasMore »

Aaron’s Q1 Net Drops

Aaron's

ATLANTA-Lagging revenues and a spike in expenses cut 24.8 percent from Aaron’s first-quarter net income, which totaled $38.3 million. Net revenues in the quarter, which ended on March 31, slipped by 1.3 percent to $585.4 million. Sales at the company-operated retail stores edged up 0.6 percent in total, but same-store revenues and customer counts forMore »

Aaron’s Acquires Progressive in Move to Transform Business

Aaron's

ATLANTA-Rent-to-own retailer Aaron’s has purchased Progressive Finance Holdings from equity firm Summit Partners, gaining an entry in what the company described in a statement as the “virtual rent-to-own” market. Progressive is a provider of virtual lease-to-own programs, offering point-of-sale lease and purchase programs to shoppers who don’t qualify for more traditional financing. According to theMore »

Aaron’s Q4, Fiscal-Year Net Plummet

Aaron's

ATLANTA-Ending a difficult year, Aaron’s posted a 38.1 percent drop in fourth-quarter net income to $22.7 million, bringing its full fiscal-year net income to $120.7 million, down 30.3 percent from the prior year. Total revenues for the specialty retailer were down 2 percent to $553.9 million in the quarter, which ended on Dec. 31. ForMore »