In the first quarter, Aaron’s felt the effects of the COVID-19 pandemic but still managed to beat a Wall Street earnings estimate.
Progressive Leasing, a wholly-owned subsidiary of Aaron’s, has reached a final settlement with the Federal Trade Commission resolving all matters raised by the company’s previously disclosed FTC investigation related to the adequacy of consumer disclosures.
A range of retailers across channels are responding to the coronavirus outbreak with moves to temporarily close their stores, reduce store hours and other consumer and employee oriented initiatives.
Aaron’s has appointed Tommy Harper as vp/manufacturing to lead Woodhaven Furniture Industries effective January 1, 2020. He will succeed Michael Jarnagin, who will retire on December 31.
For the third quarter ended September 30, when the company’s Progressive business boosted revenues, Aaron’s posted net earnings of $43.7 million, or 62 cents per diluted share, versus $25.3 million, or 35 cents per diluted share, in the year-earlier period.
Aaron’s reported a positive second quarter with a rise in overall revenues following its acquisition of SEI, the company’s largest franchisee.
Aaron’s supplied the home furnishings for this month’s Surprise Home Presentation to Tampa, FL, resident Keyona Thompson and her children as part of Homes for the Holidays program sponsored by former NFL star Warrick Dunn.
Aaron’s partnered with “The Wendy Williams Show” on a promotion that surprised a Granville, WV, family, winners of the Big Blue Bow Home Makeover showcase, including new furniture, appliances and electronics.