Progressive purchase propels profit at Aaron’s

Atlanta – The addition of income from Progressive Holdings LLC, as well as the elimination of expenses related to the April 2014 purchase of Progressive, propelled strong profit growth at Aaron’s Inc. The rent-to-own retailer reported net earnings of $40.5 million in the second quarter of fiscal 2015, almost five times the $8.5 million earnings reported the same quarter a year earlier.



Improved expense and inventory control in Aaron’s core business also boosted profits. Revenues increased 16% to $769 million, compared with $662.5 million. Same-store sales declined 4.4% due to lower customer counts.