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The Aarons Inc's Business Segments
The Aarons Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q2 FY2023
Reportable Segments
2
Largest Segment
Aaron's Business
Total Revenue
$ 530
Regions Reported
-
Revenue Share by Reportable Segment - Q2 FY2023
- Aaron's Business73.3%
- BrandsMart27.1%
Revenue by Reportable Segment - Q2 FY2023
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Aaron's Business | $ 389 | 73.3% |
| BrandsMart | $ 144 | 27.1% |
Revenue by Product & Service Category - Q2 FY2023
- Lease and Retail Revenues66.7%
- Lease Revenues and Fees66.7%
- Retail Sales27.1%
- Non-Retail Sales4.3%
- Leases1.2%
- Franchise Royalties and Other Revenues1.1%
- Franchise Royalties and Fees1.1%
- Other Revenue0%
Revenue by Product & Service Category - Q2 FY2023
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Lease and Retail Revenues | $ 354 | 66.7% |
| Lease Revenues and Fees | $ 354 | 66.7% |
| Retail Sales | $ 144 | 27.1% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
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Description of The Aarons Inc
The Aarons Company is a retail corporation based in Atlanta, Georgia, specializing in leasing and sales of furniture, electronics, and appliances. It was founded in 1955 in Atlanta by R. Charles Loudermilk Sr. as Aaron Rents and has now developed as a leading provider of furniture, appliances, mattresses, and electronics in America.
The Aarons Company has over 1,600 company-operated and franchised stores across the United States, providing its customers with flexible and affordable product ownership options, including lease-to-own and purchase solutions. The company operates under two primary brands, "Aaron's" and "Progressive Leasing."
Aaron's brand offers customers complete home furnishings and consumer electronics solutions through a unique lease-to-own business model. Its products include living room sets, dining room sets, bedroom sets, electronics, appliances, and computer systems. Customers can utilize a no-credit-check lease to purchase options to purchase products.
The second brand, Progressive Leasing, provides lease-purchase solutions to customers who are not available for credit. This model allows customers to purchase brand-new merchandise in installments, making comfortable purchases of products like furniture and electronics.
The Aarons Company is committed to creating a positive impact on the community through various initiatives such as funding scholarships for its community partners, including Boys & Girls Clubs of America, and partnership with the Military Warriors Support Foundation to provide furnished homes for injured and disabled veterans.
The company is also committed to sustainability and is constantly working to integrate environmentally responsible practices into its daily business activities. This involves environmental packaging, merchandise, and logistics solutions that contribute to waste reduction and carbon footprint reduction.
In summary, The Aarons Company is a well-established and innovative consumer goods company, employing more than 11,000 associates and operating over 1,600 company-operated and franchised stores across the United States. Its commitment to innovation, sustainability, and community development, along with a unique lease-to-own business model, continues to set the company apart in the retail industry.
The Aarons Company has over 1,600 company-operated and franchised stores across the United States, providing its customers with flexible and affordable product ownership options, including lease-to-own and purchase solutions. The company operates under two primary brands, "Aaron's" and "Progressive Leasing."
Aaron's brand offers customers complete home furnishings and consumer electronics solutions through a unique lease-to-own business model. Its products include living room sets, dining room sets, bedroom sets, electronics, appliances, and computer systems. Customers can utilize a no-credit-check lease to purchase options to purchase products.
The second brand, Progressive Leasing, provides lease-purchase solutions to customers who are not available for credit. This model allows customers to purchase brand-new merchandise in installments, making comfortable purchases of products like furniture and electronics.
The Aarons Company is committed to creating a positive impact on the community through various initiatives such as funding scholarships for its community partners, including Boys & Girls Clubs of America, and partnership with the Military Warriors Support Foundation to provide furnished homes for injured and disabled veterans.
The company is also committed to sustainability and is constantly working to integrate environmentally responsible practices into its daily business activities. This involves environmental packaging, merchandise, and logistics solutions that contribute to waste reduction and carbon footprint reduction.
In summary, The Aarons Company is a well-established and innovative consumer goods company, employing more than 11,000 associates and operating over 1,600 company-operated and franchised stores across the United States. Its commitment to innovation, sustainability, and community development, along with a unique lease-to-own business model, continues to set the company apart in the retail industry.
The Aarons Company Inc, previously known as Aarons Inc, is a prominent retail organization that specializes in lease-to-own products across multiple categories, primarily furniture, electronics, appliances, office furniture, and tires and wheels. With a widespread presence of over 1,300 stores in North America, Aarons operates under various brands, including Aarons, Progressive Leasing, and Help Card. The company is characterized by a commitment to delivering flexible leasing options that cater to a diverse customer base.
1. Lease-to-Own Furniture:
Aarons furniture segment stands out as its largest and most comprehensive offering. Customers can choose from an extensive collection of furniture products designed to enhance the comfort and aesthetics of their homes. The range includes:
- Beds: A variety of bed frames, mattresses, and headboards in different styles (traditional, modern, or rustic).
- Sofas and Recliners: A selection of sofas, loveseats, and recliners available in various colors, fabrics, and designs that cater to different home decor needs.
- Dining Room Sets: Complete dining sets including tables and chairs for family gatherings and entertaining guests.
- Bedroom Furniture: Dressers, nightstands, and wardrobes designed to create a harmonious bedroom layout.
- Outdoor Furniture: Options for patio and outdoor living including chairs, tables, and loungers.
The company offers flexible payment terms that typically range from 6 to 24 months, with the added benefit of no credit checks and no down payment required. This structure allows customers to experience the products before making a final purchase decision.
Electronics and Appliances:
In addition to furniture, Aarons provides a robust selection of electronics and appliances that are crucial for everyday living, such as:
- Televisions: A wide array of brands and sizes including smart TVs with the latest technology for high-definition viewing experiences.
- Computers and Laptops: Offering both personal computing devices for home use and laptops for students and professionals.
- Smartphones and Tablets: A range of devices from leading manufacturers, ensuring customers have access to the latest communication technology.
- Kitchen Appliances: Essential appliances such as refrigerators, microwaves, ovens, and dishwashers from brands like Samsung and Whirlpool.
- Home Entertainment Systems: Sound systems, gaming consoles, and accessories to enhance home entertainment experiences.
The company emphasizes flexibility with similar payment plans as its furniture offerings, allowing customers to choose payment intervals from 6 to 24 months, with no credit checks required.
Lease-to-Own Office Furniture:
Recognizing the growing need for home office furnishings, Aarons has developed a segment specifically targeting the home office environment. This includes:
- Desks: Various styles from traditional wooden desks to modern writing desks, accommodating different workspace preferences.
- Chairs: Ergonomic options designed for comfort and support during long periods of work.
- Storage Solutions: Bookcases and file cabinets to help organize documents and materials.
Customers can select from styles that meet their aesthetic preferences, with payment plans similarly structured at 6 to 24 months, alongside delivery and installation services for customer convenience.
Rent-to-Own Tires and Wheels:
Expanding beyond home goods, Aarons also provides products for automobile owners looking to upgrade their vehicles. This includes:
- Tires: A selection of high-quality tires from reputable brands such as Goodyear, Michelin, and Pirelli, catering to various vehicle needs.
- Wheels: Custom wheel options that allow customers to enhance their vehicle’s appearance and performance.
The payment plans for tires and wheels are flexible, typically ranging from 6 to 12 months, and the company offers professional installation and alignment services to ensure safety and satisfaction.
Payment Options:
Aarons Company Inc. stands out by offering various payment options designed to enhance customer convenience and accessibility. These options include:
- Flexible Payment Schedules: Customers can opt for weekly, bi-weekly, or monthly payment structures.
- Payoff Option: Customers have the flexibility to pay off their lease at any time without facing additional fees, which provides a sense of control and freedom.
- Online Payment Portal: For enhanced convenience, customers can manage payments securely through an online portal, making it easy to keep track of their leasing agreements.
Conclusion:
The Aarons Company Inc. delivers a wide range of lease-to-own products and services tailored to meet diverse customer needs. With a focus on flexibility, affordability, and customer satisfaction, Aarons has established itself as a trusted brand in retail, providing accessible leasing options across various product categories. Whether it’s furnishing a home, equipping a workspace, or upgrading a vehicle, Aarons is equipped to provide quality goods and services designed to enrich customers’ lives.
1. Lease-to-Own Furniture:
Aarons furniture segment stands out as its largest and most comprehensive offering. Customers can choose from an extensive collection of furniture products designed to enhance the comfort and aesthetics of their homes. The range includes:
- Beds: A variety of bed frames, mattresses, and headboards in different styles (traditional, modern, or rustic).
- Sofas and Recliners: A selection of sofas, loveseats, and recliners available in various colors, fabrics, and designs that cater to different home decor needs.
- Dining Room Sets: Complete dining sets including tables and chairs for family gatherings and entertaining guests.
- Bedroom Furniture: Dressers, nightstands, and wardrobes designed to create a harmonious bedroom layout.
- Outdoor Furniture: Options for patio and outdoor living including chairs, tables, and loungers.
The company offers flexible payment terms that typically range from 6 to 24 months, with the added benefit of no credit checks and no down payment required. This structure allows customers to experience the products before making a final purchase decision.
Electronics and Appliances:
In addition to furniture, Aarons provides a robust selection of electronics and appliances that are crucial for everyday living, such as:
- Televisions: A wide array of brands and sizes including smart TVs with the latest technology for high-definition viewing experiences.
- Computers and Laptops: Offering both personal computing devices for home use and laptops for students and professionals.
- Smartphones and Tablets: A range of devices from leading manufacturers, ensuring customers have access to the latest communication technology.
- Kitchen Appliances: Essential appliances such as refrigerators, microwaves, ovens, and dishwashers from brands like Samsung and Whirlpool.
- Home Entertainment Systems: Sound systems, gaming consoles, and accessories to enhance home entertainment experiences.
The company emphasizes flexibility with similar payment plans as its furniture offerings, allowing customers to choose payment intervals from 6 to 24 months, with no credit checks required.
Lease-to-Own Office Furniture:
Recognizing the growing need for home office furnishings, Aarons has developed a segment specifically targeting the home office environment. This includes:
- Desks: Various styles from traditional wooden desks to modern writing desks, accommodating different workspace preferences.
- Chairs: Ergonomic options designed for comfort and support during long periods of work.
- Storage Solutions: Bookcases and file cabinets to help organize documents and materials.
Customers can select from styles that meet their aesthetic preferences, with payment plans similarly structured at 6 to 24 months, alongside delivery and installation services for customer convenience.
Rent-to-Own Tires and Wheels:
Expanding beyond home goods, Aarons also provides products for automobile owners looking to upgrade their vehicles. This includes:
- Tires: A selection of high-quality tires from reputable brands such as Goodyear, Michelin, and Pirelli, catering to various vehicle needs.
- Wheels: Custom wheel options that allow customers to enhance their vehicle’s appearance and performance.
The payment plans for tires and wheels are flexible, typically ranging from 6 to 12 months, and the company offers professional installation and alignment services to ensure safety and satisfaction.
Payment Options:
Aarons Company Inc. stands out by offering various payment options designed to enhance customer convenience and accessibility. These options include:
- Flexible Payment Schedules: Customers can opt for weekly, bi-weekly, or monthly payment structures.
- Payoff Option: Customers have the flexibility to pay off their lease at any time without facing additional fees, which provides a sense of control and freedom.
- Online Payment Portal: For enhanced convenience, customers can manage payments securely through an online portal, making it easy to keep track of their leasing agreements.
Conclusion:
The Aarons Company Inc. delivers a wide range of lease-to-own products and services tailored to meet diverse customer needs. With a focus on flexibility, affordability, and customer satisfaction, Aarons has established itself as a trusted brand in retail, providing accessible leasing options across various product categories. Whether it’s furnishing a home, equipping a workspace, or upgrading a vehicle, Aarons is equipped to provide quality goods and services designed to enrich customers’ lives.