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Aaron Rents, Inc. Signs Strategic Alliance With CompUSA to Rent and Sell Personal Computers

08/01/2000

ATLANTA, Aug. 1 /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, today announced that its Aaron's Rental Purchase division has entered into a strategic alliance with CompUSA to market personal computers at the more than 400 Aaron's stores nationwide. The initial order from Aaron's for product is more than $7 million.

The Aaron's stores will offer customers two of CompUSA's most popular personal computers, said R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer of Aaron Rents, in making the announcement of the agreement.

"Today's customers are in the market for personal computers, which have become a virtual necessity for people from all walks of life," Mr. Loudermilk said. "Our strategic alliance with CompUSA will enable a large segment of under-served Americans to obtain computers. We are excited about the prospects for the growth of this business for our stores in view of the growing demand for personal computers."

Aaron's Rental Purchase will purchase personal computers directly from CompUSA's Texas factory, ensuring reduced prices to the end consumer. Aaron's will also utilize CompUSA's volume purchasing power to gain lower prices on a powerful Hewlett Packard PC, which will also be available in Aaron's stores.

The interiors of Aaron's stores will be redesigned to accommodate expanded display and floor space for computers.

Ken Butler, President of Aaron's Rental Purchase division, said, "This agreement enables Aaron's to provide new personal computers to a market segment that until now had to settle for used ones from ordinary rent-to-own stores or were unable to afford a computer. Now our customers can walk in, select a computer, and take it home the same day. They will be able to acquire computers by a cash purchase, on credit or by lease-ownership."

Aaron's will provide a two-year, in-home warranty with all the personal computers. Technical support and customer service will be provided by CompUSA through its toll-free service centers on a 24-7 basis.

Aaron Rents, Inc., based in Atlanta, currently has over 510 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.

Note: Forward-looking statements in this news release are based on current
expectations and are subject to risks and uncertainties, and actual results
may vary materially from the expectations due to such factors as changes in
general economic conditions, competition, pricing, customer demand and other
issues.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1993: 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 Danielson, Executive Vice President and Chief Financial Officer of Aaron Rents, Inc., 404-231-0011/

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