The Aaron’s Company, Inc. (NYSE:AAN) Q3 2023 Earnings Call Transcript

Kelly Wall: Jason, our goal is to offer payments at whatever frequency the customer wants to pay, whether it be weekly, biweekly, semi-monthly or monthly. And we do believe that our weekly price points are very compelling relative to what our consumer may get in other places. And so, we’re leaning in on our opening price points. We think our weekly opening price points are super compelling. So, we’re excited about it and we’re excited about growing that part of the business.

Jason Haas: Great. Thank you. And then switching over to BrandsMart, can you just talk about how you’re thinking about store openings going forward? Is the plan about one store per year or is it higher? Can you just remind me what expectations were and what when the next one will open?

Kelly Wall: Hey Jason, it’s Kelly. So yes, we’ve stated consistently over the last several quarters that we’d expect to open at a one to two stores a year. Obviously, we opened the one in Augusta this year, and we’d expect to open one to two next year. We’ve not provided an update on kind of the exact timing of that next store. So, I think it’s safe to assume at this point that it’s not going to be in Q1. So, that first store, the earliest for next year, the earliest it would come would be kind of Q2, late in Q2, potentially in Q3.

Jason Haas: Okay, got it. Thank you.

Operator: Thank you, Jason. We currently have no further questions registered, so I would like to hand back to Douglas Lindsay for any closing remarks.

Douglas Lindsay: Thank you, Operator. We appreciate everyone who’s joined us today. I want to thank our team members and franchisees for their relentless focus on delivering exceptional value and service to our customers each day. We believe that our continued focus on innovation and our ongoing strategic investments will enhance our distinct competitive advantages and grow our market share both Aaron’s and BrandsMart. Thank you again for joining us today and we’ll touch you soon.

Operator: That concludes The Aaron’s conference call. Thank you very much for your participation. You may now disconnect your lines.