Aarons 2002 Annual Report Download - page 6

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Our goal is unchanged: to build Aaron’s
into the premier, market-dominant com-
pany in our industry, recognized by our
customers and peers as the standard
bearer for integrity, honesty, and fair-
ness, and a Company that earns a
premium return for its shareholders. As
always, we are deeply grateful for the
efforts of our 4,800 associates and the
support of our shareholders.
R. Charles Loudermilk, Sr.
Chairman and Chief Executive Officer
Robert C. Loudermilk, Jr.
President and Chief Operating Officer
are grateful for his service and for his
contributions to the success of Aaron
Rents. We also note with great sadness
the death this February of Lt. General
M. Collier Ross, a valued Board mem-
ber for seven years. We will miss his
wise counsel and warm friendship.
We strengthened our management team
in 2002 with the promotion of James L.
Cates to Senior Group Vice President
and Corporate Secretary, and the pro-
motion of Bert L. Hanson to Vice
President, Mid-American Operations for
the Aaron’s Sales & Lease Ownership
Division.
Our growth prospects are bright. Our
Aaron’s Sales & Lease Ownership con-
cept is a proven model and is in the early
stages of penetrating an enormous
market. We believe our stores can be
successfully operated in any town or
city with a trading area of 20,000 peo-
ple. With approximately 650 stores cur-
rently in operation, the market potential
for us to increase future revenues and
store count is very substantial.
Our focus for 2003 is to build revenues
and earnings in our existing stores, to
open a record number of franchise
stores and to continue to take advantage
of expansion opportunities. Based on
our expansion plans and store matura-
tion trends, we expect Aaron Rents to
exceed the $1 billion systemwide rev-
enue mark in 2003, an accomplishment
of note as we enter our 48th year of
operations.