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Why Aaron's, Inc. Stock Slumped 10% Today

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Why Aaron's, Inc. Stock Slumped 10% TodayPhoto, wide shot, wide-angle lens, Department store, sunset photo at golden hour, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/57f223bf-67a0-476b-94dd-76010fccb266.png

Why Aaron's, Inc. Stock Slumped 10% Today

Shares of home-furnishings lessor Aaron's Inc. (NYSE: AAN) fell as much as 10% in early trading Friday, after the company reported third-quarter 2017 earnings that fell short of Wall Street estimates. Expected to report pro forma profit of $0.54 per share, Aaron's instead reported just $0.43. Net income as calculated under GAAP (generally accepted accounting principles) was $0.35.

After retracing its early losses somewhat, Aaron's stock closed the day down 7.4%.

Rent? Own? At Aaron's you can do both. Image source: Getty Images.

Source: Fool.com