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Company Description

Contact Info

400 Galleria Parkway SE

Suite 300

Atlanta, GA 30339

United States

Phone: 678-402-3000


Aaron’s, Inc. operates as a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The company’s store-based operations engage in the lease ownership and retail sale of various products, such as televisions, computers, tablets, mobile phones, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators. The company’s stores carry vairous brands, such as Samsung, Frigidaire, Hewlett-Packard, LG, Whirlpool, Simmons, Philips, JVC, Sharp, and Magnavox. The company owns Progressive Finance Holdings, LLC (Progressive), a major virtual lease-to-own company. Through its Progressive business, the company offers lease-purchase solutions to the customers of traditional retailers on various products, including furniture and bedding, mobile phones, consumer electronics, appliances and jewelry. Progressive provides lease-purchase solutions in 46 states. In 2015, the company acquired a 100% ownership interest in Dent-A-Med, Inc. (doing business as the HELPcard) (collectively, ‘DAMI’), which is based in Springdale, Arkansas. DAMI partners with merchants to provide various revolving credit products originated through a federally insured bank to customers that might not qualify for traditional prime lending. These are commonly referred to as ‘second-look’ credit products. Together with Progressive, DAMI allows the company to provide retail and merchant partners one source for financing and leasing transactions with below-prime customers. As of December 31, 2015, the company had 2,039 stores, comprised 1,305 company-operated stores in 28 states, the District of Columbia and Canada; and 734 independently-owned franchised stores in 47 states and Canada. Included in the company-operated store counts are 1,223 Aaron’s Sales & Lease Ownership stores (the company’s monthly and semi-monthly pay concept) and 82 HomeSmart stores (the company’s weekly pay concept). The company owns or has rights to various trademarks and trade names used in the company’s business, including Aaron’s, Aaron’s Sales & Lease Ownership, Progressive, HomeSmart, Dent-A-Med, the HELPcard and Woodhaven Furniture Industries. Segments As of December 31, 2015, the company had six segments: Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise, and Manufacturing. The company-operated stores and franchise operations are located in the United States and Canada. Sales and Lease Ownership This segment provides durable household goods to lower to middle income consumers. This segment’s customer base primarily includes customers with limited access to traditional credit sources, such as bank financing, installment credit or credit cards. The company’s stores provide a selection of brand name electronics, computers, appliances and furniture, including furniture manufactured by the company’s Woodhaven Furniture Industries division. Progressive This segment partners with retailers, primarily in the furniture and bedding, mobile phones, consumer electronics, appliances and jewelry industries, to offer a lease-purchase option for customers to acquire goods they might not otherwise have been able to obtain. The company serves customers who are credit challenged and are therefore unlikely to have access to traditional credit-based financing options. The company offers a technology-based application and approval process that does not require Progressive employees to be staffed in a store. Once a customer is approved, Progressive purchases the merchandise from the retailer and enters into a lease-to-own agreement with the customer. The contract provides early-buyout options or ownership after a contractual number of renewals. Progressive has retail partners in 46 states and operates under state-specific regulations in those states. HomeSmart This segment serves customers who prefer the flexibility of weekly payments and renewals. The consumer goods that the company provides in this segment are similar to those available in its Aaron’s Sales & Lease Ownership stores. DAMI This segment primarily serves customers that might not qualify for traditional prime le

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