Aaron's Inc was incorporated in 1962 as a Georgia corporation. The Company is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. Its store-based operations are engaged in the lease ownership and retail sale of products such as flat-screen televisions, computers, tablets, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators. The Company's brands include Samsung, Frigidaire, Hewlett-Packard, LG, Maytag, Simmons, Philips, RCA, JVC, Sharp and Magnavox. The Company's trademarks and trade names are Aaron's, Aaron's Sales & Lease Ownership and Woodhaven Furniture Industries. Its business segments are Sales and Lease Ownership, Progressive, HomeSmart, Franchise and Manufacturing. The Sales & Lease Ownership segment provides durable household goods to lower to middle income consumers. Its customer base is comprised of consumers with limited access to traditional credit sources such as bank financing, installment credit or credit cards. The Progressive segment partners with retailers, in the furniture, mattress, mobile phone, consumer electronics, appliance and household accessory industries, to offer a lease-purchase option for customers to acquire goods. The HomeSmart segment serves customers who prefer the flexibility of weekly payments and renewals. The consumer goods company provides in its HomeSmart division are substantially similar to those available in its Sales & Lease Ownership stores. The franchise segment is engaged in franchising the company's Sales & Lease Ownership and HomeSmart stores in markets. The manufacturing segment is engaged in manufacturing of furnitures and consists of five furniture manufacturing plants and nine bedding manufacturing facilities. Its competitors include Rent-A-Center, Inc. Aaron's and Rent-A-Center. The Company's operations are subject to the various federal, state and local laws and regulations.
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