Aarons 2004 Annual Report Download - page 2

Download and view the complete annual report

Please find page 2 of the 2004 Aarons annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 40

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40

Aaron Rents, Inc. serves consumers and businesses through the sale
and lease ownership, rental and retailing of consumer electronics,
residential and office furniture, household appliances, computers and
accessories with over 1,050 Company-operated and franchised stores
in the United States, Puerto Rico and Canada. The Company’s major
operations are the Aaron’s Sales & Lease Ownership Division, the
Rent-to-Rent Division and MacTavish Furniture Industries. Aaron
Rents is the industry leader in catering to the moderate income
consumer, offering affordable payment plans, quality merchandise
and superior service. The Company’s strategic focus is on growing
the sales and lease ownership business through the addition of new
Company-operated stores by both internal expansion and acquisitions,
as well as through our successful and expanding franchise program.
Financial Highlights . . . . . . . . . . . . . . 1
Letter to Shareholders . . . . . . . . . . . . 2
Aaron’s Sales & Lease Ownership . . . . . 5
Franchise Operations . . . . . . . . . . . . . 7
Acquisitions . . . . . . . . . . . . . . . . . . . 9
Rent-to-Rent . . . . . . . . . . . . . . . . . . 10
MacTavish Furniture Industries
and Fulfillment Centers . . . . . . . . . . . 11
Aaron’s Community Outreach Program . 11
Selected Financial Information . . . . . . 12
Management’s Discussion and
Analysis of Financial Condition
and Results of Operations . . . . . . . . . 13
Consolidated Balance Sheets . . . . . . . . 21
Consolidated Statements of Earnings . . 22
Consolidated Statements of
Shareholders’ Equity . . . . . . . . . . . . . 22
Consolidated Statements of Cash Flows 23
Notes to Consolidated
Financial Statements . . . . . . . . . . . . . 24
Management Report on Internal
Control Over Financial Reporting . . . . . 33
Reports of Independent Registered Public
Accounting Firm . . . . . . . . . . . . . . . . 34
Common Stock Market
Prices & Dividends . . . . . . . . . . . . . .35
Store Locations . . . . . . . . . . . . . . . . 36
Board of Directors and Officers . . . . . . 37
Corporate and Shareholder Information . 37
Contents