Aarons 2013 Annual Report Download - page 4

Operationally,
we invested in


build a more solid


current business
as well as future
growth. As part of this

new store operating


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that enhance our
customer service

initiatives. In addition, we consolidated, closed or sold
eight stores that were not meeting performance goals and


including Aaron’s and HomeSmart stores.
We made several key management changes during 2013
in operations, marketing, legal, strategic planning and
learning and development:



team. Dave began his career as Manager Trainee, followed
by Store Manager, and has risen steadily through Aaron’s,
We consider 2013 to be a year of transformation
and transition for Aaron’s. Today, just as we
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history, Aaron’s is assessing, adjusting and

economic trends and competitive landscapes. Our
commitment to our customers, our shareholders and

consistent and sustainable growth.

delivered even higher levels of customer service, despite
a challenging year and ongoing economic pressures.
Aaron’s continues to experience growth, having opened


store count. We are also encouraged by the prospects for
our HomeSmart division, our weekly rental business, and

the focused execution of our strategic initiatives and the
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team, our core business will generate enhanced returns.





as part of our overall commitment to deliver value to our
shareholders, in December 2013, we announced a $125
million accelerated share repurchase program, under

shares of its common stock in 2013 and 1.0 million shares

Net earnings were $120.7 million in 2013 versus $173.0

12 months were $1.58 for 2013 compared to $2.25 in 2012.
Results for both 2013 and 2012 contained certain unusual



recorded for retirement expenses and a change in vacation

made for retirement expenses along with recognition

a lawsuit.
We are also pleased to have increased the dividend
rate for the eighth consecutive year, including an


TO OUR SHAREHOLDERS