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YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , COVID-19 related supply chain disruptions, and increases in the costs of transportation and shipping the merchandise to our distribution centers and store locations. We have limited or no control o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. financial condition may be materially and adversely affected as well. We are implementing a new three-year strategic plan within our business designed to strengthen and grow our business and genera...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. that these initiatives will be successful. For example, we may not be successful in our attempts to attract new customers to our brand, develop the technology needed to further enhance our customers...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ing process we historically used in our business. Regarding our real estate strategy, the buildout of our new Aaron's store concept and operating model includes geographically repositioning a signif...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. for those locations will need to adjust to managing and operating larger, more complex stores, and there can be no assurances that those stores will be successful. In addition, we are exploring a ne...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. that the real estate component of our strategy will be successful. For example, we may not be successful in transitioning the customers of our stores that are closed or repositioned to other stores ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. customers to transact on-line and reach new customers, we must effectively maintain, improve and grow our e-commerce platforms and digital acquisition channels. While we believe our aarons.com e-com...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. companies’ e-commerce platforms and logistics networks, or maintain, improve or grow our e-commerce platform in a profitable manner. There can be no guarantee that our strategy for our business, an...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. or financial condition. Our growth strategies may be unsuccessful if we are unable to identify and complete future acquisitions and successfully integrate acquired businesses or assets. We will co...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ed liabilities of acquired companies and unidentified issues that we fail to discover during our due diligence investigations or that are not subject to indemnification or reimbursement by the seller...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of customer, employee or other confidential information; difficulty in conforming standards, controls, procedures and policies, business cultures and compensation structures; difficulty in identif...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. addition, if we are unable to successfully integrate our acquisitions with our existing business, we may not obtain the advantages that the acquisitions were intended to create, which may materially...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. strains on our management and other personnel time and resources, and require timely and continued investment in facilities, personnel and financial and management systems and controls. We may not b...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. attribute data provided by external sources, including for use as inputs in our centralized decisioning tools. Our centralized decisioning tools rely on these third-party data providers for data inp...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . If we were to lose access to this external data or if our access or use were restricted or were to become less economical or desirable, our business, and our centralized decisioning processes in pa...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. The success of our business depends upon our ability to successfully manage our inventory and to anticipate and respond to merchandise trends and customer demands in a timely manner. We cannot always...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. would result in lower profit margins. In addition, our level of profitability and success in the LTO business depends on our ability to successfully re-lease or sell our inventory of merchandise tha...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. stores, and virtual LTO companies that offer LTO options through traditional independent, traditional and on-line providers of used goods and merchandise, Buy Now, Pay Later companies, traditional, ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. before we can, which may decrease our opportunities in those markets. Greater name recognition, or better public perception of a competitor’s reputation, may help them divert market share away from ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. expense. Our inability to attract new customers, or loss of current customers, could have a material adverse effect on our business, results of operations or financial condition. Given the nature o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -19 pandemic, the reduction of any government stimulus programs, the resumption of any eviction proceedings, the resumption of student loan payments and changes in consumer behavior relating thereto,...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. lease decisioning tools used to approve customers could no longer be indicative of our customers’ ability to perform under their lease agreements with us, even after the COVID-19 pandemic subsides. ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. increased lease merchandise write-offs. Such unexpected changes in behavior caused by such factors could result in behaviors and attributes observed for prior customers no longer being indicative of...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. quantities and levels we require. Our stores, distribution centers and fulfillment centers may be impacted by the physical risks of climate change, and we face the risk of losses incurred as a resu...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. our costs associated with compliance and merchandise. These events and their impacts could adversely affect our business, results of operations or financial condition. The COVID-19 pandemic and it...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. experienced disruptions in our supply chain which have impacted product availability in some of our stores and, in some situations, required us to procure inventory from alternative sources at highe...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Additionally, workforce costs associated with the COVID-19 pandemic, such as healthcare costs, paid leave, enhanced cleaning and sanitation and vaccine incentive programs, are higher. There may be...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. refraining from continuing to pay their lease obligations at all, which may materially and adversely affect our business and results more substantially over a longer period. The extent of the impac...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. offer could decrease and our business, results of operations or financial condition could be materially and adversely affected. Certain consumer advocacy groups, media reports, federal and state re...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. associated with our LTO programs or the lack of viable alternatives for our customers’ needs. Although we strongly disagree with these characterizations, if the negative characterization of these ty...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. including social media platforms, has increased the risk that our reputation could be significantly impacted by these negative characterizations in a relatively short amount of time. If we are unabl...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. inappropriate activities or business practices, merely because we operate in the same general industries as such competitors. Risks Related to Our Aaron's Business Franchisees We may engage in, or...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. experience. In addition, we may be subject to claims by our franchisees relating to our franchise disclosure documents, including claims based on financial information contained in those documents. ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , however, are independent businesses and not team members, and consequently we cannot and do not control them to the same extent as our company-operated stores. Our franchisees may fail in key areas...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. es, and could suffer write-downs of outstanding receivables those franchisees owe us if they fail to make those payments to us. If we fail to adequately mitigate any such future losses, our business,...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. substantive aspects of our relationships with franchisees may limit our ability to terminate or otherwise resolve conflicts with our franchisees or enforce contractual duties or rights we believe we...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. unknown. If these challenges and/or new positions are successful in altering currently settled law, it could significantly change the relationship between us and our franchisees and the way we and o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. likelihood that certain franchised networks would be required to employ unionized labor, which could impact franchisors like us through, among other things, increased labor costs and difficulty in a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. could result in increases in lease merchandise write-offs, among other things, which could materially and adversely affect our financial performance. The success of our business is dependent on fac...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. potential customers to forego purchasing or leasing merchandise from us, or to decrease the amount of merchandise that they otherwise may purchase or lease from us, especially with respect to mercha...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of markets may expose us to risks of adverse economic developments that are greater than if our store portfolio were more geographically diverse. In addition, our store operators are subject to the ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. entions, limits of liability and similar provisions that we believe are prudent based on our overall operations. We may incur certain types of losses that we cannot insure or which we believe are not...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. expected losses under our workers’ compensation, general liability, and group health insurance programs. Unanticipated changes in any applicable actuarial assumptions and management estimates underl...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. on our results of operations. The application of indirect taxes, such as sales tax, is a complex and evolving issue. Many of the fundamental statutes and regulations that impose these taxes were es...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. with our customers. Although these notifications have not resulted in material tax liabilities to date, there is a risk that one or more jurisdictions may be successful in the future, which could ha...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. harassment in the workplace, or if an employee were to engage in, or be accused of engaging in, illegal or suspicious activities including fraud or theft of our customers’ information, we could suff...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. misconduct, could result in a material adverse effect on our reputation and our business. 35 We have limited recent history of operating as an independent company, and our historical financial inf...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. operations that we would have achieved as a separate, publicly traded company during the periods presented or those that we will achieve in the future primarily as a result of the factors described ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. company. Prior to the consummation of the separation on November 30, 2020, our business was integrated with the other businesses of PROG Holdings. Thus, we had shared economies of scope and scale i...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and distribution costs that would be material. However, if we do incur additional material costs and we do not have sufficient cash available to repay such costs, we may be required to borrow under ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in the future. In the future, shareholders' percentage ownership in us may be diluted because of equity issuances for acquisitions, capital market transactions or otherwise, including equity and st...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. dilute the voting power or reduce the value of our common stock. Similarly, the repurchase or redemption rights or liquidation preferences we could assign to holders of preferred stock could affect ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. obligations, corporate strategy, regulatory constraints, industry practice, statutory and contractual restrictions applying to the payment of dividends and other factors deemed relevant by our Board...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the rules and regulations required by the SEC. In addition, the Exchange Act requires that we file annual, quarterly and current reports. Our failure to prepare and disclose this information in a ti...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. respect to a prior period for which we had previously believed that internal controls were effective. If we are not able to maintain or document effective internal control over financial reporting, ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. operating practices, internal controls, compliance programs and other policies, procedures and processes. We may also encounter difficulties in addressing possible differences in business backgroun...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of internal control over financial reporting for up to one year following the acquisition. Any difficulties in the assimilation of BrandsMart U.S.A. into our internal control framework could harm o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. statements could also suffer if we or our independent registered public accounting firm reports a material weakness in our internal control over financial reporting. This could have a material and a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. (including a beneficial owner) to bring (a) any derivative action or proceeding brought on behalf of The Aaron's Company, (b) any action asserting a claim of breach of a fiduciary or legal duty owed...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. asserting a claim against us, our current or former directors, officers, team members, shareholders, or agents governed by the internal affairs doctrine, or (e) any action against us, our current or...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. any action brought in any such foreign court to enforce these exclusive forum provisions and (ii) having service of process made upon such shareholder in 37 any such action by service upon such sh...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. actions or proceedings covered by these exclusive forum provisions. Certain provisions in our articles of incorporation and bylaws, and of Georgia law, may deter or delay an acquisition of us. Our...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . We believe that these provisions will help to protect our shareholders from coercive or otherwise unfair takeover tactics by requiring potential acquirers to negotiate with our Board and by provid...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. price of the Company's common stock could decrease. In addition, an acquisition or further issuance of our stock could trigger the application of Section 355(e) of the Code. Under the tax matters a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. from one to 20 years or provide for options to purchase the related property at predetermined purchase prices that do not represent bargain purchase options. Aaron's Company, Inc. also has leased pr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ada Colorado New York 32 Connecticut Ohio 58 Delaware Oklahoma 24 Florida 75 Oregon 20 Georgia 69 Pennsylvania 36 Iowa Rhode Island Idaho South Carolina 32 Illinois 16 Tennes...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. stores average approximately 100,000 square feet. Below is a summary of our BrandsMart U.S.A stores by location: Stores Florida Georgia Total BrandsMart U.S.A. Stores 10 Our principal executiv...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Parts Warehouse, Administration and Showroom – Primarily Owned 738,000 We believe that all of our facilities are well maintained and adequate for their current and reasonably foreseeable uses. 39...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. under the heading "Legal Proceedings," which discussion is incorporated by reference in response to this Item 3. ITEM 4. MINE SAFETY DISCLOSURES Not applicable. 40 ITEM 5. MARKET FOR REGISTRANT'...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. by our Board and will be subject to our ongoing ability to generate sufficient income and free cash flow, any future capital needs and other contingencies. Under our revolving credit agreement, we m...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Programs1 October 1, 2022 through October 31, 2022 135,847,377 November 1, 2022 through November 30, 2022 187,476 10.55 187,476 133,869,290 December 1, 2022 through December 31, 2022 31,416...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. amount of $150.0 million, and extended the maturity date by one year to December 31, 2024. Subject to the terms of our Board's authorization and applicable law, repurchases may be made at such times...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the S&P 600 Specialty Retail Index $100 invested on 11/30/2020 in stock or index, including reinvestment of dividends for the fiscal period ending December 31, 2022. The line graph above and the t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Peer Group Indexes to ensure each is reflective of our Company's business operations and characteristics. Prior to 2022, the Company's Peer Group indexes consisted of the S&P Smallcap 600 Index and ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , Inc. 100.00 98.80 130.33 65.13 S&P Smallcap 600 100.00 108.32 137.37 115.26 S&P 600 Retailing Index 100.00 106.84 181.02 137.66 S&P 600 Specialty Retail Index 100.00 108.42 181.12...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Securities and Exchange Commission (the "SEC") and the audited Consolidated and Combined Financial Statements and corresponding notes thereto included in Item 8 of this Annual Report on Form 10-K. A...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. discussed in these forward-looking statements are subject to risk, uncertainties, and other factors that could cause actual results to differ materially from those made, projected or implied in the ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of December 31, 2022, the Company's operating and reportable segments are the Aaron's Business and BrandsMart, each as described below. The Aaron's Business segment is comprised of (i) Aaron's bran...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. it operates. Through a portfolio of approximately 1,275 stores and its aarons.com e-commerce platform, Aaron's, together with its franchisees, provide consumers with LTO and retail purchase solution...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. BrandsMart U.S.A. is one of the leading appliance and consumer electronics retailers in the southeast United States and one of the largest appliance retailers in the country with ten stores in Flori...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. included the off-market value associated with certain operating leases entered into in conjunction with the transaction. Refer to Note 2 to the accompanying consolidated and combined financial stat...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. .A.'s customers enhanced payment options and 44 offering a wider selection of products to millions of Aaron’s customers, as well as generating procurement savings and other cost synergies. Multi-Y...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. stores into a "hub" store while converting other nearby stores into "showrooms" that focus on sales activities. Promote our Value Proposition to Retain and Attract New Customers to our Brand – We c...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , all allowing us to customize messages around price, value, and payment flexibility. Aaron's Company, Inc. is also increasing its local marketing and promotions focus on weekly payment offerings to ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. now available at BrandsMart's stores ("BrandsMart Leasing"). Offering a wider selection of BrandsMart's product assortment to Aaron's customers through the aarons.com e-commerce platform, and Leve...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -commerce customer acquisition channel by investing in enhancements to the online shopping experience through website redesign, expanded product selection, and enhanced digital marketing strategies t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. enhancing these programs in 2023 and beyond. Restructuring Programs As management continues to execute on its long-term strategic plan, additional benefits and charges are expected to result from ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , together with our aarons.com e-commerce platform and increased use of technology to better serve our customers, will enable us to reduce store operating costs while continuing to better serve our e...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the 116 locations open at the beginning of the year, total GenNext stores contributed 19.7% of total lease revenues and fees and retail revenues for the Aaron's Business segment in 2022. As of Decem...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Company-operated Aaron's store footprint over the next three years. We believe that such strategic actions will allow the Company to continue to successfully serve our markets while continuing to ut...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. future restructuring expenses (reversals) due to potential future early buyouts of leases with landlords, as well as continuing variable occupancy costs related to closed stores. Operational Effici...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. showroom model to optimize labor in markets, store labor realignments, optimization of the Company's supply chain, the centralization and optimization of store support center, operations, and multi-...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. outs of leases with landlords, as well as continuing variable occupancy costs related to closed stores. 46 In January 2023, the Company announced a headcount reduction of its store support center a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. their operations limited. As a result, COVID-19 could impact our business, results of operations, financial condition, liquidity and/or cash flow in future periods. The extent of any such impacts l...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. would be deemed essential, and thus, exempt from all or some portion of such orders; (d) the extent of the impact of additional government stimulus and/or enhanced unemployment benefits to our custo...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ("American Rescue Plan") on March 11, 2021. We believe a significant portion of our customers received government stimulus payments and/or federally supplemented unemployment payments, pursuant to t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 31, 2022, the Company has no remaining liability for payroll taxes deferred under the CARES Act. Operating Segment Performance As discussed above, the Company conducts its operations through two pr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , and separation costs for which the individual operating segments are not being evaluated. Aaron's Company, Inc. evaluates segment performance based primarily on revenues and earnings (loss) from o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and Analysis do not include unallocated corporate expenses. Fiscal Year 2022 Highlights We have been actively monitoring the impact of the current challenging macroeconomic environment, including ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in 2022 compared to $1.85 billion in 2021, an increase of 21.9%. This increase is primarily due to the inclusion of BrandsMart in the Company's consolidated results subsequent to the April 1, 2022 a...