Tag Archives: Aaron’s

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 »

Aaron’s Lowers Projections for Q4 Earnings, Revenues

Aaron's

ATLANTA-Based on revenue and customer growth that have not met expectations, Aaron’s said its fourth-quarter earnings will be less than planned. Earnings per share are now expected to range between 27 cents and 31 cents, down from the previous projected range of 38-42 cents a share. Revenues are now expected at $555 million, down fromMore »

Aaron’s Reduces Q3 Sales Guidance

Aaron's

ATLANTA-Based on a weaker-than-expected performance, Aaron’s said it is reducing its guidance for third-quarter sales from its previous projection of $550 million to $540 million. Ronald Allen, Aaron’s president and CEO, said the third-quarter numbers for revenue and customer growth did not meet the retailer’s projections. “Our customers continue to struggle in the current economicMore »

Aaron’s Net Falls 28.7 Percent in Q2

Aaron's

ATLANTA-Net income for home furnishings retailer and leaser Aaron’s totaled $25.9 million in its fiscal second quarter, down 28.7 percent from the second quarter of a year ago. Declines in sales along with an uptick in expenses were the primary culprits. Net sales from both retail and non-retail operations in the quarter, which ended onMore »