As of Mar 31, 2018, the company had 1,719 Aaron’s Sales & Lease Ownership stores in 48 states and Canada, comprised of 1,182 company-operated stores and 537 independently-operated franchised stores.
In fiscal 2017, 138 net Aaron's Sales & Lease Ownership stores were closed, systemwide (+ 10 company-operated, - 148 franchisees). During the first quarter of fiscal 2018, 7 net Aaron's Sales & Lease Ownership stores were closed, systemwide.
The company leases most of their locations. The majority of leases are for periods that do not exceed 5 years, although lease terms range in length up to 15 years. Lease terms usually contain renewal options for additional periods ranging from 1 to 20 years.
The typical Aaron's Sales & Lease Ownership store ranges from 6,000 to 10,000 square feet, with an average of approximately 8,000 square feet.
|Total gross square feet (M)||16,501||16,568||16,880||17,984||18,483||18,895|
|Total gross square feet growth||-1.2%||-1.8%||-6.1%||-2.7%||-2.2%||3.6%|
|Avg store gross sq ft||9,600||9,600||9,100||8,500||8,800||8,800|
|Avg store gross sq ft growth||5.9%||6.0%||2.7%||-3.4%||-0.2%||-0.2%|
Notes:Reflects systemwide figures, including company-operated and franchised stores