Aaron's is a leading provider of lease ownership for furniture, consumer electronics, and home appliances through 1,300+ company-operated and franchised stores in 47 states and Canada, based in Atlanta. Nearly 40-50 percent of American households with incomes below $50,000 can access Aaron's services through multiple channels. Through its e-commerce platform Aarons.com, it provides consumers with LTO and purchases solutions for the products they need and want, with a focus on providing customers with unparalleled customer service and attractive value proposition, including competitive monthly payments and total cost of ownership as compared to other LTO providers, high approval rates, and lease plan flexibility. As of FY2021, the company had 1,074 company-operated stores in 43 states and Canada, and 236 independently-owned franchised stores in 35 states and Canada.
As of FY2021, the company had a total of 1,310 stores located in 43 states and Canada, comprised of 1,074 company-operated locations and 236 franchised locations, which are owned and operated by independent franchisees on a licensed basis. They have developed a distinctive store concept including specific merchandising standards, store designs, and flexible payment options, all designed to appeal to their customer base. A typical store layout is a combination of showroom, customer service, and warehouse space, generally comprising 6,000 to 15,000 square feet. Almost all stores have at least two trucks to facilitate last-mile delivery and service.
In FY2020, the company closed down a net of 162 stores bringing the total store count to 1,340 YoY. This was because on November 30, 2020, Aaron's Holdings Company, Inc. completed the previously announced separation of Aaron's Business segment from its Progressive Leasing and Vive segments and changed its name to PROG Holdings, Inc.
In FY2019 and FY2020, the company rolled out its GenNext store concept. It features larger showrooms and/or re-engineered store layouts, increased product selection, technology-enabled shopping and checkout, and a refined operating model. The company expects that this strategy, together with the Aarons.com e-commerce platform and increased use of technology to better serve its customers, will enable it to reduce store count while continuing to better serve existing markets, as well as attracting new customers and expanding into new markets in the future. As of FY2021, Aaron’s had 116 GenNext stores in its portfolio, with plans to add an additional 120 GenNext concept stores by FY2022.
United States of America
United States of America
Netherlands
United States of America
Japan
United States of America
Australia
United Kingdom
Russia
Switzerland
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer