Why Aaron's Stock Fell Today
Shares of Aaron's (NYSE: AAN) were down 9% as of 12:26 p.m. ET on Tuesday after the retailer issued its second-quarter earnings report.
Revenue fell 13% versus the year-ago period. While reported earnings, or profits, more than tripled, adjusted (non-GAAP) earnings declined 50% year over year.
The lease-to-own seller of home goods delivered results that were ahead of management's internal estimates, but the persistent weak sales trends took the spotlight. While there were bright spots, the company is still dealing with a prolonged slump in the market for home goods, including appliances, electronics, and furniture.
Source Fool.com
