ATLANTA, July 12 /PRNewswire/ -- Aaron Rents, Inc. (NYSE: RNT), the
nation's leader in the rental, rental purchase and specialty retailing of
residential and office furniture, consumer electronics and home appliances,
will celebrate the opening of its 500th systemwide store on Thursday. The
landmark Aaron's Rental Purchase store is located in Cartersville, Georgia.
"This historic event marks the doubling of our total store count in four
and a half years," said R. Charles Loudermilk, Sr., Chairman and Chief
Executive Office of Aaron Rents, Inc. "We now expect to open more than
30 Company-operated and 50 franchised rental purchase stores this year, our
fastest growth rate ever in store count."
"During the first six months of 2000, we opened 18 Company-operated and
25 franchised rental purchase stores, a total of 43 new stores," Mr.
Loudermilk said. "At the end of June we had a total of 411 rental purchase
stores open. We are very excited about Aaron's strong growth, and we look
forward to another record year in 2000, which would be our ninth consecutive
year of record performance."
The grand opening activities at the 500th store on Thursday in
Cartersville will include a ribbon-cutting ceremony with former Georgia Gov.
Joe Frank Harris, Cartersville Mayor Sam Smith, Aaron Rents CEO Loudermilk,
and Aaron's Rental Purchase President Ken Butler participating.
Aaron Rents, Inc., based in Atlanta, currently has more than 500 Company
operated and franchised stores in 39 states for the rental and sale of
residential and office furniture, accessories, consumer electronics and
household appliances. The Company manufactures furniture, bedding and
accessories at ten facilities in four states.
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Forward-looking statements in this news release are based on current |
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expectations and are subject to risks and uncertainties, and actual results |
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may vary materially from the expectations due to such factors as changes in |
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general economic conditions, competition, pricing, customer demand and other |
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issues. |
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"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Statements in this news release regarding Aaron Rents, Inc.'s
business which are not historical facts are "forward-looking statements" that
involve risks and uncertainties which could cause actual results to differ
from those contained in the forward-looking statements. For a discussion of
such risks and uncertainties see "Risk Factors" in the Company's Annual Report
on Form 10-K for fiscal 1999, which discussion is incorporated herein by this
reference.
SOURCE Aaron Rents, Inc.
CONTACT: Gilbert L. Danielson, Executive Vice President and Chief
Financial Officer of Aaron Rents, Inc., 404-231-0011/