Progressive Leasing Announces Limited Test with Wal-Mart Stores, Inc.
ATLANTA, Jan. 15, 2016 /PRNewswire/ — Aaron’s, Inc. (NYSE: AAN), a leader in sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories, today announced that its Progressive Leasing business is currently testing Progressive’s virtual lease-to-own solution with Wal-Mart Stores, Inc. The test is limited to approximately 100 stores.
“Progressive offers an industry-leading virtual lease-to-own solution that provides a great deal for customers,” said Ryan Woodley, Chief Executive Officer of Progressive Leasing. “We’ve invested heavily in innovation to make this process as easy as possible for our customers and will continue to do so.”
About Aaron’s, Inc.
Aaron’s, Inc. (NYSE: AAN), a leader in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances, and accessories, has more than 2,000 Company-operated and franchised stores in 47 states, the District of Columbia, and Canada. Aaron’s was founded in 1955, is headquartered in Atlanta, and has been publicly traded since 1982. Progressive Leasing, a leading virtual lease-to-own company, provides lease-purchase solutions through more than 16,000 retail locations in 46 states. Aaron’s, Inc. includes the Aarons.com, ShopHomeSmart.com, and ProgLeasing.com brands. For more information, visit www.aarons.com.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release regarding Aaron’s, Inc.’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements generally can be identified by the use of forward-looking terminologies, such as “may,” “expect,” “forecast,” “guidance,” “intend,” “believe,” “could,” “project,” “estimate,” “anticipate,” “should” and similar terminology. These risks and uncertainties include factors such as changes in general economic conditions, competition, pricing, legal and regulatory proceedings, customer privacy, information security, customer demand, the integration of the Progressive acquisition, the execution and results of our new strategy, risks related to Progressive’s “virtual” lease-to-own business with which the Company may be unfamiliar, and the other risks and uncertainties discussed under “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 as updated in its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2015. Statements in this press release that are “forward-looking” include our statements regarding the test currently being conducted by Progressive in certain Wal-Mart stores, which may or may not result in a larger program or expanded rollout. You are cautioned not to place undue reliance on this or any other forward-looking statements contained in this press release, which speaks only as of the date of this release. Except as required by law, the Company undertakes no obligation to update any such forward-looking statements to reflect subsequent events or circumstances after the date of this press release.
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SOURCE Aaron’s, Inc.
Aaron’s, Inc., Sharon J. Lawrence, Vice President, Finance, 678.402.3000; SCR Partners, Jeff Black, 615.760.3679, JBlack@scr-ir.com
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