Aaron Rents Posts Record Revenues, Earnings

February 21, 2007  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on February 2007 Aaron Rents, Atlanta, reported record revenues and earnings Tuesday as revenues for the year that ended Dec. 31 topped $1.32 billion, an 18 percent increase over the previous year. The company, which has 1,350 company-owned and franchised stores, is primarily focused on the rental and sale of home and office furniture, electronics and appliances.

For the fourth quarter, revenues increased 15 percent to $339.9 million, and net earnings increased 30 percent to $19 million. During 2006, net earnings increased 36 percent to $78.6 million. The company added 146 sales and lease ownership stores, a 13 percent increase, during the year.

In a statement, Chairman and CEO Charles Loudermilk said he expects revenues to top $1.5 billion this year.