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Aaron’s Company, a leading, technology-enabled, omnichannel provider of lease-to-own and purchase solutions, has reported a 2.5 per cent revenue rise to $452.2 million in the third quarter (Q3) of FY21 ended on September 30, 2021, over the same period of prior fiscal. E-commerce revenues grew 13.3 per cent over Q3 FY20, representing 14.3 per cent of lease revenues.
Aaron’s, a leading, technology-enabled, omnichannel provider of lease-to-own and purchase solutions, has reported a 2.5 per cent revenue rise to $452.2 million in the third quarter (Q3) of FY21 ended on September 30, 2021, over the same period of prior fiscal. E-commerce revenues grew 13.3 per cent over Q3 FY20, representing 14.3 per cent of lease revenues.
“In the nearly one-year since our spin transaction, we have strengthened Aaron’s leadership position in the direct-to-consumer lease-to-own market. Through continued investments in our fast-growing e-commerce channel, predictive lease decisioning engine and high-performing GenNext stores, we are delivering a better customer experience, greater productivity and long-term growth in our business,” Douglas Lindsay, chief executive officer of The Aaron’s Company, said in a press release.
Aaron’s, a leading, technology-enabled, omnichannel provider of lease-to-own and purchase solutions, has reported a 2.5 per cent revenue rise to $452.2 million in the third quarter (Q3) of FY21 ended on September 30, 2021, over the same period of prior fiscal. E-commerce revenues grew 13.3 per cent over Q3 FY20, representing 14.3 per cent of lease revenues.
During the third quarter, gross profit rose to $284.6 million ($279.5 million), whereas operating profit slipped to $33.2 million ($41.3 million). The American company’s net earnings dropped to $24.3 million ($32.6 million).
Aaron’s, a leading, technology-enabled, omnichannel provider of lease-to-own and purchase solutions, has reported a 2.5 per cent revenue rise to $452.2 million in the third quarter (Q3) of FY21 ended on September 30, 2021, over the same period of prior fiscal. E-commerce revenues grew 13.3 per cent over Q3 FY20, representing 14.3 per cent of lease revenues.
Furthermore, Aaron’s has revised its full year 2021 outlook and now expects revenues to between $1.820 billion and $1.830 billion.
Aaron’s, a leading, technology-enabled, omnichannel provider of lease-to-own and purchase solutions, has reported a 2.5 per cent revenue rise to $452.2 million in the third quarter (Q3) of FY21 ended on September 30, 2021, over the same period of prior fiscal. E-commerce revenues grew 13.3 per cent over Q3 FY20, representing 14.3 per cent of lease revenues.
“With strong third quarter results, we are again raising our revenue and earnings outlook for the full year 2021. I am encouraged by the continued year-over-year growth in our lease portfolio and the robust inventory position we have built as we enter the peak demand season,” Lindsay concluded.
Fibre2Fashion News Desk (JL)
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