US specialty retailer Aaron's Q1 FY21 sales jump 11% to $481 mn

Aaron's, a US-based leading omnichannel provider of lease-purchase solutions, reported 11.1 per cent revenue growth to $481.1 million in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the revenues of $432.8 million in the same period previous fiscal. The company’s net earnings for the period was $36.2 million (Q1 FY20: loss $323.7 million).

 

Aaron's, a US-based leading omnichannel provider of lease-purchase solutions, reported 11.1 per cent revenue growth to $481.1 million in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the revenues of $432.8 million in the same period previous fiscal. The company's net earnings for the period was $36.2 million (Q1 FY20: loss $323.7 million).#

“We are very pleased to announce a strong start to 2021,” Douglas Lindsay, chief executive officer of The Aaron's Company, said in a press release. “Customer deliveries and payment activity in the quarter were robust, and the size of our lease portfolio continues to grow compared to the prior year period.”

 

Aaron's, a US-based leading omnichannel provider of lease-purchase solutions, reported 11.1 per cent revenue growth to $481.1 million in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the revenues of $432.8 million in the same period previous fiscal. The company's net earnings for the period was $36.2 million (Q1 FY20: loss $323.7 million).#

Gross profit during Q1 FY21 was $303.0 million ($267.2 million). Operating expenses were $254.5 million ($731.9 million), while operating profit was $48.6 million (operating loss: $464.7 million). E-commerce revenues for the period grew 42 per cent compared to the prior year quarter.

 

Aaron's, a US-based leading omnichannel provider of lease-purchase solutions, reported 11.1 per cent revenue growth to $481.1 million in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the revenues of $432.8 million in the same period previous fiscal. The company's net earnings for the period was $36.2 million (Q1 FY20: loss $323.7 million).#

“Our operations teams are energised and are executing at a high level, and our key strategic priorities continue gaining momentum. We are making investments in industry-leading technology, analytics-driven marketing programmes, and our rapidly growing e-commerce channel,” Lindsay said.