Aarons 2011 Annual Report Download - page 13

integrated — to be more understandable as a brand, and to be
top of mind when consumers think about home furnishings.
Aaron’s® brings jobs and service to communities.
Aaron’s expects to open its 2,000th store in 2012, a
remarkable milestone which will be marked by a number of
promotions and events. In addition, the Company is investing
in HomeSmart, a weekly rental concept. HomeSmart is
designed to reach those customers who need the flexibility of
a weekly payment plan or who cannot successfully afford the
typical Aaron’s Sales & Lease Ownership monthly payment.
HomeSmart may prove an additional avenue of growth,
broadening the market of customers served by the Company
and bringing more jobs to more communities.
Aaron’s has consistently brought employment opportunities to
our communities, creating new jobs each year. The Company
now has over 11,200 associates, and a combination of
Company-operated and franchised stores in 48 states.
Aaron’s is committed to serving our communities. In 2011, for
the third year in a row, our national store managers devoted one
afternoon to community outreach projects benefiting military
service members, children and the community. In conjunction
with this day of service, more than 2,000 Aaron’s associates
invested 4,500 hours and $200,000 in product and service
donations. As part of the donation, the Company presented St.
Jude Children’s Research Hospital, the nation’s top children’s
cancer hospital, with a check for $81,200 from funds raised
during an associate campaign. Over the past three years of
community outreach projects, Aaron’s managers have invested
15,700 hours and over $1 million dollars in product and service
donations to surrounding communities.
Aaron’s® brings outstanding returns to investors.
At the end of 2011, the Company had $274.4 million in cash
and short-term investment securities and an unused line of
credit of $140 million. The Company repurchased 5.1 million
shares of stock in 2011 and has an authorization to acquire an
additional 5.3 million shares.
We are proud that Aaron’s has provided solid
investment returns to investors over the years.
We have paid cash dividends consistently for 24
years and raised the cash dividend rate by 15%
in 2011, the seventh consecutive year of dividend
increases. Our operating success is reflected in the
market value of the Company which increased
24% in 2011 and our stock price recently reached
an all-time high. These results wouldn’t be possible
without the loyalty of our customers, the hard work
of our associates, our many business partners, and
the support of our shareholders.
Aaron’s® brings it home … for 57 years and counting.
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