Log In   |  Register Free Newsletter Subscription
Skip navigation
Zibb
Subscribe to Furniture Today
Resource Center graphic
RSS
Reprints/License
Print
Email

Aaron Rents earning surge 32% in third quarter

Revenues grow 16.3%, with same stores up 5.7%

Larry Thomas -- Furniture Today, October 29, 2008

ATLANTA — Rent-to-own powerhouse Aaron Rents said third quarter revenues were 16.3% ahead of last year's third quarter, while profits rose more than 32%.

The company, which operates more than 1,400 Aaron's Sales and Lease Ownership stores and 38 Rimco stores, said same-store sales at the 985 company-owned Aaron's stores increased 5.7% during the quarter.

Total revenues for the quarter ended Sept. 30 were $388 million, compared with $333.7 million in the same quarter last year.

Net income was $21.1 million or 39 cents per share, compared with $15.9 million or 29 cents per share in last year's third quarter.

Robert Loudermilk Jr., president and CEO, said hurricanes Gustav and Ike affected business at more than 100 stores and cost the company 1 to 2 cents per share in earnings, including the value of merchandise that was destroyed in the homes of Aaron's customers.

For the nine months ended Sept. 30, revenues were up 15.3% to $1.19 billion. Nine-month net income was up 6.7% to $69.1 million, or $1.28 per share.

During the quarter, the company announced an agreement to sell its Aaron's Corporate Furnishings division. That unit's revenues and expenses are no longer included in financial statements, and figures from prior years have been restated to reflect the change.

RSS
Reprints/License
Print
Email
Talkback
Reed Business Information Resource Center

Featured Company


Related Resources

Advertisement

Related Microsite Content

Related Links

  • No Related Content Available

More Content
  • Blogs
  • Photos

Larry Thomas

Special Order

Larry Thomas
November 06, 2009
A surprising twist to a controversial trucking program
The long-running battle over the controversial “clean truck” program...
More

Judi Fulbright

Research Says

Judi Fulbright Research Says Profile
November 06, 2009
More on upholstery and price points
After the appearance of the Upholstery Fabric & Style Survey in the October 5...
More

VIEW ALL BLOGS RSS
GuildMaster chest

Best of Market: More market highlights

Here is a sampling of some of the stylish new products catching dealers' eyes at the October High Point Market. For more coverage, see Furniture/Today's Nov. 2 print issue. When you're done viewing the photos in this Slideshow, more images of hot introductions also are available on the Furniture/Today Web site by clicking here.

 

 

High Point Market scene, 1955

Scenes from the High Point Market's past 100 years

The High Point Market is marking its 100th anniversary this April. To help celebrate this milestone, Furniture/Today presents some pictorial highlights of the past 100 years.

FT Industry Resources module
Advertisement
eNewsletters
Furniture Today eDaily
Furniture Today eClassifieds
Bedding Today
Furniture Today Green
Casual Living eWeekly
Home Accents Today eWeekly
Home Accents Today Product Line
Home Textiles Today Extra
Hospitality Furnishings Today
Gifts & Dec Direct
Gifts & Dec Product Wire
Kids Today eWeekly
Playthings Extra



Please read our Privacy Policy

About Us   |   Advertise   |   Site Map   |   Contact Us   |   Subscription   |   Affiliate Links   |   RSS
© 2009 Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
Use of this Web site is subject to its Terms of Use | Privacy Policy
Please visit these other Reed Business sites