Welcome to our dedicated page for The Aarons Company news (Ticker: AAN), a resource for investors and traders seeking the latest updates and insights on The Aarons Company stock.
This page provides a historical news archive for The Aaron's Company, Inc., which was formerly listed on the NYSE under the ticker AAN. The company described itself as a technology-enabled, omnichannel provider of lease-to-own and retail purchase solutions for appliances, electronics, furniture, and other home goods, operating through its Aaron's, BrandsMart U.S.A., BrandsMart Leasing, and Woodhaven brands.
News items for AAN cover a range of topics from its period as a public company. These include announcements about quarterly financial results, dividend declarations, participation in investor conferences, and updates on store openings, such as new BrandsMart U.S.A. locations in Georgia and Florida. Releases also describe developments in the company’s omnichannel strategy and its use of e-commerce alongside a network of company-operated and franchised stores in 47 states and Canada.
A significant portion of the more recent news flow focuses on corporate transactions. The Aaron's Company announced that it had entered into a definitive agreement to be acquired by IQVentures Holdings, LLC, and later reported the completion of that acquisition. Related news items detail the agreed purchase price, Board approval, shareholder approval, and the resulting plan for the company’s common stock to cease trading and be delisted from the NYSE.
For investors and researchers, the AAN news archive offers context on how The Aaron's Company communicated its strategy, brand development, and major corporate actions leading up to its take-private transaction. Users can review historical press releases to understand the company’s lease-to-own and retail activities, expansion of BrandsMart U.S.A., and the steps that culminated in its acquisition by IQVentures.
BlueLinx Holdings (NYSE: BXC) has appointed Christopher Kelly Wall as Senior Vice President, Chief Financial Officer and Treasurer, effective May 19, 2025. Wall brings 30 years of finance experience and will oversee the company's financial strategy, capital markets activity, investor relations, and financial operations.
Wall joins from The Aaron's Company, where he served as EVP and CFO, leading initiatives including a public company spin-off, BrandsMart USA acquisition, and Aaron's take-private transaction in 2024. His prior experience includes senior financial roles at CNG Holdings and TMX Finance, and a 17-year career at Bank of America Merrill Lynch where he led over 200 capital markets transactions as Managing Director.
The Aaron's Company (NYSE: AAN) has announced the completion of its acquisition by IQVentures Holdings for $10.10 per share in cash, representing an enterprise value of approximately $504 million. The acquisition, initially announced on June 17, 2024, and approved by Aaron's shareholders on September 25, 2024, will result in the delisting of Aaron's common stock from the NYSE.
Douglas Lindsay, CEO of Aaron's, expressed enthusiasm about the merger, stating it would enhance their ability to accelerate their omni-channel strategy and improve operational efficiency. J.P. Morgan Securities and Jones Day served as financial advisor and legal counsel to Aaron's, respectively, while Stephens Inc. and King & Spalding LLP advised IQVentures.
The Aaron's Company, Inc. (NYSE: AAN) and IQVentures Holdings, have announced the expected completion of their previously announced acquisition later today. The acquisition, initially revealed on June 17, 2024, received shareholder approval on September 25, 2024. Upon finalizing the transaction, The Aaron's Company's common stock will cease trading and be delisted from the NYSE.
J.P. Morgan Securities is acting as the exclusive financial advisor to The Aaron's Company, with Jones Day serving as legal counsel. For IQVentures, Stephens Inc. is the exclusive financial advisor, and King & Spalding LLP is providing legal counsel.
The Aaron's Company, Inc. (NYSE: AAN) reported its Q2 2024 financial results, revealing mixed performance. Revenues reached $503.1 million, but the company faced a net loss of $11.9 million. The adjusted EBITDA was $24.5 million, with a loss per share of $0.39 and a non-GAAP loss per share of $0.07.
Key highlights include a definitive agreement to be acquired by IQVentures Holdings, for $10.10 per share. Aaron's Business saw a 6.1% increase in recurring revenue written, driven by 11.1% growth in lease merchandise deliveries. E-commerce recurring revenue written surged by 79.4%. However, BrandsMart comparable sales decreased by 7.3%. The company announced a quarterly cash dividend of $0.125 per share, payable on October 3, 2024.
The Aaron's Company (NYSE: AAN), a leading provider of lease-to-own and retail purchase solutions, has announced a regular quarterly cash dividend of $0.125 per share. The dividend is payable on October 3, 2024, to shareholders of record as of the close of business on September 13, 2024. This announcement demonstrates the company's commitment to returning value to shareholders and maintaining a consistent dividend policy.
The Aaron's Company (NYSE: AAN) has announced the grand opening of a new BrandsMart U.S.A. store in Kennesaw, Georgia, on July 20th. This 35,000-square-foot store is the fourth Georgia location and the second new BrandsMart store to open since Aaron's acquired BrandsMart in 2022. Located near Kennesaw State University, the store will employ approximately 80 new team members and feature a refreshed brand image and streamlined layout.
BrandsMart U.S.A. now has 12 stores across Georgia and Florida. As part of its community engagement, BrandsMart is donating 50 new laptop computers to KSU's CARE Services program, supporting students experiencing homelessness or food insecurity. The grand opening will begin with a ribbon-cutting ceremony at 9:40 a.m., followed by the store opening at 10:00 a.m.
The Aaron's Company, Inc. (NYSE: AAN), a leading provider of lease-to-own and retail purchase solutions, has announced it will release its second quarter 2024 results after market close on Monday, August 5, 2024. This announcement comes in the wake of a significant development: on June 17, 2024, the Company disclosed that it has entered into a definitive agreement to be acquired by IQVentures Holdings, .
Due to this pending acquisition, Aaron's will not be hosting an earnings conference call to discuss the quarter's results. Instead, the financial results will be furnished with the SEC on a Form 8-K and will be made available on the Company's investor relations website at investor.aarons.com.
The Aaron's Company announced a definitive agreement to be acquired by IQVentures Holdings for $10.10 per share in cash, valuing the company at approximately $504 million. This price represents a 34.0% premium over Aaron's closing share price on June 14, 2024, and a 35.6% premium over the 90-day volume-weighted average share price.
The transaction, approved by Aaron's Board of Directors, is expected to close by year-end, pending shareholder and regulatory approval. Post-acquisition, Aaron's will become a privately held company, delisting from NYSE, but continue operating under its existing brand and maintaining its headquarters in Atlanta, GA.
The Aaron's Company (NYSE: AAN) will participate in the TD Cowen Financial Services & Fintech Summit on June 6, 2024, at 3:05 p.m. Eastern Time. Chief Financial Officer C. Kelly Wall and Vice President of Finance & Investor Relations Marc Levee will represent the company in a fireside chat. A live webcast of the event will be available and archived on Aaron's investor relations website.
The Aaron's Company, Inc. (NYSE: AAN) will webcast its 2024 Annual Meeting of Shareholders on May 15, 2024, in Atlanta, Georgia. Investors can access the webcast on the Investor Relations page of the company's website. The webcast is for listening purposes only, not for participation.