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* [http://www.aaronrents.com/ Aaron Rents website] |
* [http://www.aaronrents.com/ Aaron Rents website] |
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* [http://www.buffalonews.com/281/story/43335.html Buffalo News article about Aaron's contribution to inner-city poverty] |
* [http://www.buffalonews.com/281/story/43335.html Buffalo News article about Aaron's contribution to inner-city poverty] |
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==References== |
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{{cite book|last=Plunkett|first=Jack W.|title=Plunkett's Retail Industry Almanac 2008||url=http://books.google.com/books?id=z4eZhafKnEcC&pg=PT151&dq=%22Aaron+Rents%22&ei=TeJNSLKLGIegiwGR0InmDQ&sig=iSE01i3MGBtUWV7H8BYHXj8QS1E|date=December 2007|isbn=1-59392-101-2}} |
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{{Atlanta companies}} |
{{Atlanta companies}} |
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Revision as of 02:22, 10 June 2008
File:Aaron Rents.gif | |
Company type | Public (NYSE: RNT) |
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Industry | Furniture |
Founded | 1955 |
Headquarters | Atlanta, Georgia |
Key people | R. Charles Loudermilk, Founder and CEO Robert C. Loudermilk, President and COO Gilbert L. Danielson, CFO and Executive Vice President |
Products | Furniture rental, rent-to-own, poverty |
Revenue | US$ 201.08 million (2006) |
US$ 20.65 million (2006) | |
Subsidiaries | Aaron's Aaron's Corporate Furnishings Rimco |
Website | www.aaronrents.com |
Aaron Rents, Inc. (NYSE: RNT) is a lease-to-own retailer, whose principal rival is Rent-A-Center. It was founded by R. Charles Loudermilk in 1955. The company focuses on furniture, electronics, appliances, computer leases and retail sales to low-income persons and people with poor credit histories.
The company is divided into three major divisions: sales and lease ownership; corporate furnishings; and manufacturing. The incorporation of manufacturing as well as retailing makes the company vertically integrated. The company has over 950 company owned stores, and uses the franchise model as well for a total of over 1400 stores throughout North America.
As of July 31 2007, Aaron Rents Inc. has 1415 locations, broken down as follows:
- 882 company-owned sales and lease ownership stores
- 24 Rimco stores
- 2 Franchise Rimco stores
- 447 Franchised SALO stores
- 49 Aaron’s Corporate Furnishings
- 11 Aaron's Office Furniture
This includes the first company owned Canadian store, opened on April 13, 2007 in Windsor, Ontario.
Legal Issues
In 2007, Aaron Rents, Inc. was served a lawsuit from a couple who claimed that Aaron Rents had infested their home with bed bugs after a short term contract for furniture rental. The couple claimed in the suit that they, along with their four children, were forced to abandon their home and all of its contents after the home became infested with bed bugs and multiple attempts at extermination had failed. The company, while initially admitting fault, withdrew any assistance to the couple which resulted in the suit being filed in Fulton Superior Court, Atlanta, GA. The couple, represented by Atlanta attorneys, Akin and Tate, who are currently in the midst of the suit, launched a website to gain public support in 2008. http://aaronrentsgaveusbedbugs.homemarker.com
Sponsorships
- NASCAR racing: "Aaron's Dream Machine," the NASCAR Nationwide Series team owned by Michael Waltrip and driven by David Reutimann. Reutimann replaced long-time owner/driver Waltrip in 2007. Aaron's also sponsors the #00 Michael Waltrip Racing car driven by Michael McDowell.
- Hooters USAR ProCup: Official series sponsor and sponsor of cars driven by Butler's sons, Ken Butler III and Brett Butler.
- Arena Football League: Official league sponsor and presenting company of the "Aaron's Dream Team," consisting of the most popular cheerleaders from every team in the AFL. This ad hoc team performs at the annual ArenaBowl.
- Aaron's Cycling Team - sponsors both elite men's and women's professional cycling teams that compete on the USA Cycling National Racing Calendar
- Football Saturday in the South, a series of pre-season documentaries that are syndicated by Lincoln Financial Media.
External links
- Aaron Sales and Lease Ownership website
- Aaron Rents website
- Buffalo News article about Aaron's contribution to inner-city poverty
References
Plunkett, Jack W. (December 2007). Plunkett's Retail Industry Almanac 2008. ISBN 1-59392-101-2. {{cite book}}
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