By Bill Read
Oct 25, 2021
Retailer Update: Aaron’s to reposition and remodel
According to Bill Read, executive vice president of Retail Specialists, Aaron’s is reducing its company-operated stores by 300. The company is right-sizing their real estate portfolio to increase profitability, while rolling out a new prototype and increasing the focus on Aarons.com for shopping and service.
Aaron’s has announced it is repositioning its store fleet. A recent real estate trend by Burlington, Macy’s, and Nordstrom is to open smaller stores, but Aaron’s is taking a different approach in consolidating stores stating in their annual report they will “Align our store footprint with customer opportunity.” By choosing to open less stores, it turns out each store is more profitable.
“Our Real Estate Strategy leads to fewer, more profitable stores.”
- Rent-to-own business model
- Been in business for 65+ years
- $1.7B in revenue
- 1000+ company-owned stores, 248 franchised locations
- Operate in more than 700 markets
- Trades on NYSE under AAN
- As of 12/31/20 1.1M customers had leases with Aaron’s
Retail Update by Bill Read
Industry report on trends with commercial retail real estate.
Researched and written by Bill Read.
About Retail Specialists
Retail Specialists, LLC is the premier retail real estate services firm in the south. We are committed to long-term relationships in property management, retail representation, development, leasing, and brokerage. Founded in 2005, we’ve thrived through tough times and shine under pressure. A unique mix of experience, technology, and data have proven successful in a business we love.