Aaron's draws down $300 million in credit, withdraws guidance [MarketWatch]
Aarons Holdings Company, Inc. (AAN)
Last aarons holdings company, inc. earnings: 2/20 07:00 am
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Source: MarketWatch
Aaron's draws down $300 million in credit, withdraws guidance Aaron's Inc. AAN, -11.53% says it has withdrawn its full-year fiscal 2020 outlook and has drawn down $300 million from its credit facility. As of March 15, the company said it has $550 million in cash and a remaining $185 million in its credit revolver. Aaron's provides lease and purchase services for items including furniture and consumer electronics across more than 22,000 locations and an e-commerce site. Aaron's has shifted to online and curbside service only at all stores. Aaron's stock has sunk 70% over the past year while the S&P 500 index SPX, -3.00% is down 17.7% for the period.
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