ATLANTA, May 25 /PRNewswire-FirstCall/ -- Aaron Rents, Inc. (NYSE: RNT),
the nation's leader in the sales and lease ownership, specialty retailing and
rental of residential and office furniture, consumer electronics and home
appliances and accessories, today announced the acquisition of ten Aaron's
Sales & Lease Ownership franchised stores.
"These stores are located in major population areas in which we can add
numerous additional stores," said R. Charles Loudermilk, Sr., Chairman and
Chief Executive Officer of Aaron Rents. "By expanding on this base of now
Company-operated stores, we believe we will be able to further penetrate these
and other nearby markets rapidly and efficiently."
The stores were acquired from Almost Yours, LLC and affiliated LLC's, a
franchisee of Aaron's Sales & Lease Ownership since 1999. The stores are
located in the metropolitan areas of Salt Lake City and Seattle, with one
store in Reno, Nevada. The current revenue volume of the ten stores is
approximately $925,000 per month.
Aaron Rents, Inc., based in Atlanta, currently has more than 1,075
Company-operated and franchised stores in 45 states, Canada, and Puerto Rico
for the rental and sale of residential and office furniture, accessories,
consumer electronics and household appliances. The Company also manufactures
furniture, bedding and accessories at 10 facilities in four states.
"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
materially from those contained in the forward-looking statements. These
risks and uncertainties include factors such as changes in general economic
conditions, competition, pricing, customer demand and other issues, and the
risks and uncertainties discussed under "Certain Factors Affecting Forward
Looking Statements" in the Company's Annual Report on Form 10-K for fiscal
2004, which discussion is incorporated herein by this reference.
SOURCE Aaron Rents, Inc.
CONTACT: Gilbert L. Danielson
Executive Vice President, Chief Financial
Officer of Aaron Rents, Inc.
+1-678-402-3334
Web site: http://www.aaronrents.com
(RNT)