ATLANTA, April 13 /PRNewswire/ -- Aaron Rents, Inc. (NYSE: RNT) today
announced that Eduardo Quinones has been promoted to President of the
Company's Rent-to-Rent Division. He previously was Vice President, Southeast
Residential Region.
"Ed Quinones has a proven track record of success during his more than
15 years with our Company, and he brings outstanding abilities to his new
assignment," said R. Charles Loudermilk, Sr., Chairman and Chief Executive
Officer of Aaron Rents.
"During the past several months we have taken numerous steps, including
the sale of unprofitable stores, to improve the performance of the Rent-to-
Rent division," Mr. Loudermilk said. "We anticipate that these actions, along
with the leadership of Ed Quinones, will result in substantial improvement in
the future operating results of the division."
Mr. Quinones began his career with Aaron Rents as an assistant store
manager in Fort Lauderdale, Florida in 1985, advancing to store manager in
Pembroke Pines, Florida that same year and to district manager two years
later. In 1989 he was promoted to the regional vice president of the South
Florida market and in 1994 became Vice President, Western Region, leading the
region to the best performance in the Rent-to-Rent division. Three years
later he was named Vice President, Southeast Residential Region.
Prior to joining Aaron Rents, Mr. Quinones received a B.A. degree in
corporate management from Florida Atlantic University in 1984. He earned a
Master of Business Administration from Fort Lauderdale College in 1989.
In his new position as President of the Rent-to-Rent Division, Mr.
Quinones succeeds Brian E. Stahl who resigned.
Aaron Rents, Inc., based in Atlanta, is the nation's leader in the
combined businesses of rental, rental purchase and specialty retailing of
residential and office furniture, consumer electronics and home appliances
with more than 490 Company-operated and franchised stores nationwide. The
Company manufactures furniture, bedding and accessories at 11 plants in four
states.
Aaron Rents reported record revenues and earnings for 1999, the eighth
consecutive year of record revenues and profits. For the year, revenues
increased 15% to $437.4 million, and earnings reached a record $25.6 million
versus $21.5 million in 1998.
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Forward-looking statements in this news release are based on |
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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/