Aaron’s Outlines Hurricane Harvey Relief Initiatives
Aaron’s Inc. is reporting that a number of its businesses in the path of Hurricane Harvey’s destruction have experienced significant interruptions or are temporarily closed. The company’s Progressive Leasing has been affected by the closures and interruptions of their retail partners, while 58 of Aaron’s retail stores have closed. Due to the extensive damages caused by the hurricane, Aaron’s currently is unable to determine when operations will return to normal, but it expects to be in a better position to assess the financial impact of the storm in the coming weeks and will provide an update during its third quarter earnings call.
“The areas in Texas hit by the storm are some of the most important markets for both Progressive Leasing and the Aaron’s business, so we are monitoring the situation closely,” says John Robinson, CEO of Aaron’s. “Our primary concern, of course, is the safety and well-being of our associates, customers, retail partners and the communities that have been most impacted by the storm.”
Aaron’s has addressed four ways in which it intends to provide support to communities recovering from Hurricane Harvey: a contribution of $100,000 to be dispersed to those most affected by the storm, re-routing delivery trucks to distribute 10,000 cases of bottled water, applying a temporary suspension on regularly scheduled lease payments and collection activities, and the launch of a GoFundMe fundraiser, “Aarons Gives.”
The nationwide fundraiser will benefit the company’s associates and so far has raised more than $52,000 toward its goal of $100,000. Donations can be made online by clicking here.