Aaron's (AAN) Announces Opening of New BrandsMart Store

Core Insights - The Aaron's Company, Inc. has opened a new BrandsMart U.S.A. store in Kennesaw, GA, enhancing its market presence and e-commerce capabilities [1][2] - The company anticipates improved demand at BrandsMart in the second half of 2024, with projected revenues between $610 million and$650 million [3] - Aaron's shares have increased by 35.5% over the past three months, significantly outperforming the industry growth of 7.5% [3] Store Expansion - The new BrandsMart store spans 35,000 square feet and is the second outlet in Georgia since the acquisition of BrandsMart in 2022 [2] - BrandsMart U.S.A. now operates 12 stores across Georgia and Florida, with the Georgia locations primarily in the greater Atlanta area [2] - The new store will create approximately 80 jobs and features a refined image and streamlined layout [2] Growth Strategies - The company is focusing on digital marketing, improved shopping experiences, and express delivery options to enhance customer engagement [4] - Significant growth in business-to-business sales was observed in the first quarter, which is expected to continue [4] - The market optimization strategy, including GenNext stores, has contributed over 33% of lease revenues and retail sales [5] Financial Performance - For 2024, adjusted EBITDA for BrandsMart is forecasted to be between $7 million and$12 million [3] - The company is committed to expanding its e-commerce channel and improving in-store experiences through product assortment rationalization [3][5]