Aaron's, Inc.

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Aaron's, Inc.

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 store Dearborn Heights, Michigan

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

As of 11 June 2010 (2010 -06-11)^[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]}

History

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]

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 Aaron's.^[3] Aaron's has also been the namesake of the spring race at Talladega Superspeedway, the Aaron's 499, since 2002.
• 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]}

References

General references:

Specific references:

External links

• Official website
• Aaron's Sales and Lease Ownership website
• Aaron's Office Furniture website
• RIMCO