The Aaron's Company is an American lease-to-own retailer. The company focuses on leases and retail sales of

furniture Furniture refers to movable objects intended to support various human activities such as seating (e.g., stools, chairs, and sofas), eating (tables), storing items, eating and/or working with an item, and sleeping (e.g., beds and hammocks). Fu ...

, electronics, appliances, and computers. The company sells through the company-operated and franchised stores, e-commerce platform (Aarons.com)

Locations

, the Aaron's Company has 1,340 stores: 1,092 company-operated stores (in 43 states and Canada) and 248 independently owned and operated franchised stores in 35 states and Canada.

History

Aaron Rents, Inc. was founded by R. Charles Loudermilk, Sr. in 1955. 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, recorded revenues of approximately $99 million in 2007. As of December 31, 2016, Aaron's had 1,864 stores located in 28 states and the District of Columbia and Canada. In addition, they had 699 independently owned franchised stores in 46 states and Canada. On July 29, 2020, Aaron's Holdings Company, Inc. announced plans to split into two companies: PROG Holdings, Inc. and The Aaron's Company, Inc. PROG Holdings, with the ticker symbol "PRG" (), remained in the

S&P Midcap 400 The S&P MidCap 400 Index, more commonly known as the S&P 400, is a stock market index from S&P Dow Jones Indices. The index serves as a gauge for the U.S. mid-cap equities sector and is the most widely followed mid-cap index. To be included in ...

stock index but its Global Industry Classification Standard was changed to "Consumer Finance". The Aaron's Company continueed to trade under the ticker symbol "AAN" () but was moved into the S&P Smallcap 600.

Controversy

In February 2013, customers sued Aaron's for allegedly using spyware on rented computers to send over 185,000 emails to the rental company, including customers'

Social Security number In the United States, a Social Security number (SSN) is a nine-digit number issued to U.S. citizens, permanent residents, and temporary (working) residents under section 205(c)(2) of the Social Security Act, codified as . The number is issued to ...

s, passwords and captured keystrokes, as well as explicit images. The Aaron's Company officials had previously said that the company had not installed the spyware, and individual franchisees were responsible. In October 2013, Aaron's agreed to a settlement with the

Federal Trade Commission The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) antitrust law and the promotion of consumer protection. The FTC shares jurisdiction ov ...

that limited how it used monitoring technology and ordered it to delete customer information that had been improperly collected.

Sponsorships

* NASCAR racing: Aaron's entered NASCAR jumping in between multiple teams and drivers, sponsoring drivers such as

Johnny Benson Jr. Jonathan Thomas Benson Jr. (born June 27, 1963) is an American retired stock car racing driver and the son of former Michigan modified driver John Benson Sr. Benson has raced across NASCAR's three national series (Cup, Busch, Truck), and his c ...

, Kenny Wallace, and

Hermie Sadler Herman Marion Sadler III (born April 24, 1969) is a candidate for the newly redrawn Virginia State Senate District 17 and was a former American professional stock car racing driver, announcer, professional wrestling promoter, and autism advocate ...

. In 2008, Aaron's then became the full-time sponsor for the team

Michael Waltrip Racing Michael Waltrip Racing Holdings LLC, doing business as Michael Waltrip Racing ("MWR"), was an American professional stock car racing team that last competed full-time in the NASCAR Sprint Cup Series. The company was as a 50–50 partnership betwe ...

in NASCAR's

Monster Energy Cup Series The NASCAR Cup Series is the top racing series of the NASCAR, National Association for Stock Car Auto Racing (NASCAR). The series began in 1949 as the Strictly Stock Division, and from 1950 to 1970 it was known as the Grand National Division. ...

for a couple of years, sponsoring drivers such as David Reutimann, Michael McDowell, Mark Martin, Brian Vickers, and

David Ragan David Lee Ragan (born December 24, 1985) is an American professional stock car racing driver. He last competed part-time in the NASCAR Cup Series, driving the No. 15 Ford Mustang for Rick Ware Racing, and is also an analyst for NASCAR on Fox ...

in a scheme that was named the "Aaron's Dream Machine". Aaron's was also the namesake of the spring race at Talladega Superspeedway, the

Aaron's 499 The GEICO 500 is a NASCAR Cup Series stock car race held at the Talladega Superspeedway in Lincoln, Alabama. The race is usually held in April or May. The 1997 event stands as the fastest NASCAR race to date ever run with an average speed of ...

, along with the Xfinity Series spring race at the track, the Aaron's 312, from 2002 to 2014. Aaron's also sponsored Clint Bowyer for a single race in Atlanta during the 2016 season. The year after, Aaron's sponsored

Michael Waltrip Michael Curtis Waltrip (born April 30, 1963) is an American former professional stock car racing driver, racing commentator, and published author. He competes full time in the Camping World Superstar Racing Experience. He is the younger brother o ...

in his last race. * National Hot Rod Association racing: Aaron's sponsored Don Schumacher Racing in the NHRA Camping World Drag Racing Series. They sponsored Funny Car driver

Jack Beckman Jack Beckman (Born June 28, 1966 at San Fernando, California and also known as Fast Jack,) is a professional drag racer who drove a NHRA Fuel Funny Car for Don Schumacher Racing until 2020. Beckman won the SuperComp championship in 2003, his firs ...

and Top Fuel driver Antron Brown.

References

Sources

External links

* *
Aaron's Sales and Lease Ownership website

Home Staging by Aaron's
- Home Staging Furniture Fulfilled by Aaron's
HOMESMART
- Subsidiary of Aaron's Inc.
Aaron Inc SEC Filings
{{authority control Companies listed on the New York Stock Exchange Companies based in Atlanta Retail companies established in 1955 Furniture retailers of the United States Renting Franchises 1955 establishments in Georgia (U.S. state)