The Aaron's Company, a US-based omnichannel provider of lease-purchase solutions, reported 8.5 per cent revenues growth to $467.5 million in second quarter (Q2) of FY21 ended on June 30, 2021, compared to $430.9 million in the same period previous fiscal. E-commerce revenues surged 15.8 per cent representing 14.0 per cent of lease revenues (Q2 FY20: 12.8 per cent).
The Aaron's Company, a US-based omnichannel provider of lease-purchase solutions, reported 8.5 per cent revenues growth to $467.5 million in second quarter (Q2) of FY21 ended on June 30, 2021, compared to $430.9 million in the same period previous fiscal. E-commerce revenues surged 15.8 per cent representing 14.0 per cent of lease revenues (12.8 per cent).#
“We are pleased to announce another quarter of strong operating results, a significant return of capital to shareholders, and an increase in our revenue and earnings outlook for the full year 2021,” Douglas Lindsay, chief executive officer of The Aaron's Company, said in a press release.
The Aaron's Company, a US-based omnichannel provider of lease-purchase solutions, reported 8.5 per cent revenues growth to $467.5 million in second quarter (Q2) of FY21 ended on June 30, 2021, compared to $430.9 million in the same period previous fiscal. E-commerce revenues surged 15.8 per cent representing 14.0 per cent of lease revenues (12.8 per cent).#
“Robust demand for our products, continued strength in customer payments, and ongoing execution of our strategic initiatives have led to a larger lease portfolio generating higher revenues, double-digit earnings growth and strong free cash flow,” Lindsay added.
The Aaron's Company, a US-based omnichannel provider of lease-purchase solutions, reported 8.5 per cent revenues growth to $467.5 million in second quarter (Q2) of FY21 ended on June 30, 2021, compared to $430.9 million in the same period previous fiscal. E-commerce revenues surged 15.8 per cent representing 14.0 per cent of lease revenues (12.8 per cent).#
Gross profit for Q2 FY21 rose to $294.7 million ($263.9 million), while operating profit jumped to $44.0 million ($30.3 million). The company’s net earnings for the three-month period was $32.9 million ($22.4 million).
The Aaron's Company, a US-based omnichannel provider of lease-purchase solutions, reported 8.5 per cent revenues growth to $467.5 million in second quarter (Q2) of FY21 ended on June 30, 2021, compared to $430.9 million in the same period previous fiscal. E-commerce revenues surged 15.8 per cent representing 14.0 per cent of lease revenues (12.8 per cent).#
“Our continued investments in customer-focused decisioning technology, digital payment and servicing platforms, and both in-store and online shopping experiences are yielding positive results and are collectively driving greater productivity and margin expansion,” Lindsay concluded in the release.
The Aaron's Company, a US-based omnichannel provider of lease-purchase solutions, reported 8.5 per cent revenues growth to $467.5 million in second quarter (Q2) of FY21 ended on June 30, 2021, compared to $430.9 million in the same period previous fiscal. E-commerce revenues surged 15.8 per cent representing 14.0 per cent of lease revenues (12.8 per cent).#
In its outlook for full year 2021, the company increased its expectation of total revenues to be between $1.7 billion and $1.8 billion.
ALCHEMPro News Desk (JL)
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