Aaron's Announces Additional Efforts for Hurricane Relief, Provides Business Update on Irma
ATLANTA - Sept. 21, 2017 // PRNewswire // - Aaron's, Inc. (NYSE: AAN), a leading omnichannel provider of lease-purchase solutions, today announced plans to continue to assist the ongoing recovery efforts related to Hurricanes Irma and Harvey.
"Our thoughts and prayers remain with the victims of the recent storms in Florida and Texas, and we're working hard to help the customers, associates and communities we serve in the affected areas through this difficult period," said John Robinson, Chief Executive Officer, Aaron's, Inc.
"While many of our markets thankfully avoided the full brunt of Irma, the massive storm did disrupt our operations in several important southeastern states - so we are continuing to closely monitor the situation as our stores and retail partners get back to normal operations," concluded Mr. Robinson.
As it relates to Hurricane Irma specifically, 111 Aaron's stores in Florida, Georgia, and South Carolina were forced to close in preparation for and during the immediate aftermath of the storm, with all but one store in Florida having since reopened. In addition, a number of Progressive Leasing's retail partners in the state have experienced business interruptions. In light of the extensive damage in the areas impacted by Hurricane Irma and Harvey, it is difficult to predict when the Company's operations will return to normalized levels in the affected markets. The Company maintains insurance coverage for windstorm, property and flood damage and business interruption, although it is difficult to predict the amount or timing of any insurance recoveries.
The Company expects to be in a better position to assess the financial impact of the storms over the coming weeks and will provide an update on its third quarter earnings call.
About Aaron's, Inc.
Headquartered in Atlanta, Aaron's, Inc. (NYSE: AAN), is a leading omnichannel provider of lease-purchase solutions. The Aaron's Business engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its more than 1,770 Company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com. In addition, Progressive Leasing, a virtual lease-to-own company, provides lease-purchase solutions through approximately 24,000 retail locations in 46 states. Dent-A-Med, Inc., d/b/a the HELPcard®, provides a variety of second-look credit products that are originated through federally insured banks. For more information, visit investor.aarons.com, Aarons.com, ProgLeasing.com, and HELPcard.com.
VP Finance, Investor Relations & Treasury
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SOURCE Aaron's, Inc.
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