Aaron's Reaches Milestone With 100th "GenNext" Store Opening
ATLANTA, Jan. 5, 2022 // PRNewswire // - The Aaron's Company, Inc. (NYSE: AAN) has reached a significant milestone in its nationwide rollout of the new GenNext concept with its 100th location opening in Largo, Fla.
GenNext stores feature the best new designs including larger, brighter, and easier-to-navigate main showrooms stocked only with new furniture, appliances, and electronics. The concept also includes new technology related to decisioning, expanded assortment and payment systems, providing a best-in-class experience for shoppers. In their initial year, GenNext locations nationwide are collectively experiencing more than a 20% increase in sales over the traditional Aaron's stores.
After testing and opening 47 GenNext stores through the end of 2020, Aaron's rapidly expanded the innovative concept in 2021, more than doubling the total number of locations.
"As we bring our GenNext stores to communities all across the country, we continue to receive positive feedback from our customers," said Douglas Lindsay, CEO of The Aaron's Company. "We set out to transform the rent-to-own industry, and reaching this pivotal milestone is proof we are making significant progress in our mission to fundamentally change the customer experience in this category."
In addition to bringing the 100th "GenNext" upgrade to Largo, Aaron's has also made an investment in the local community by donating $10,000 to the Boys & Girls Clubs of the Suncoast. The money will be used by the Ridgeview Unit in Largo, specifically supporting its efforts to provide youth with access to technology and workforce readiness programming. Aaron's has been a long-time partner with Boys & Girls Clubs of America (BGCA), and recently announced an 18-month, $800,000 extension to its BGCA initiative through the summer of 2023. This is in addition to $10 million the Aaron's Foundation has committed to the national youth development organization since 2015.
"We are thrilled with the impact our long-term relationship with the Boys & Girls Clubs of America has had on teens nationwide, so providing direct assistance to the Boys & Girls Clubs of the Suncoast was a perfect way to reinforce our belief in the organization's mission and celebrate our "GenNext" milestone in the Tampa Bay community," added Lindsay.
SOURCE The Aaron's Company
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