Aaron's Corporate Profile

Aaron's Corporate Profile

Aaron’s, Inc. (NYSE: AAN) is a vertically-integrated leading retailer focused on the lease ownership, lease, and sale of consumer products such as computers, appliances, furniture, and accessories. As of 2019, Aaron's had approximately 1,500 company-operated and franchised stores in 47 states, Canada, and Puerto Rico. Typically, the rent-to-own transaction takes place through weekly or monthly transactions over 1–2 years and is popular amongst lower-middle-income consumers who have a temporary need, wish to test out a product or brand, cannot qualify under typical financing programs, or who have sufficient credit but do not want to add debt. This is not considered a credit installment contract, and customers may return the product or buy it outright, generally at any time. Aaron’s differentiates itself by utilizing larger stores, offering a wider merchandise selection, and delivering lower costs through integrated manufacturing. Aaron’s believes that the reduction in small-box consumer-goods retailers has provided an opportunity for the industry to grow the subset of the population currently targeted by rent-to-own retailers.