Aaron’s Inc. Q1 profit soars 60% to $71.2 million

Aaron’s Inc. (NYSE: AAN) The Atlanta-based electronics, furniture and appliances rentals retailer reported its first-quarter profit jumped 60 percent following a $35.5 million reversal of accrued lawsuit expense. During the first quarter of 2012, the company settled a lawsuit with a former Aaron’s associate who claimed she was sexually harassed by a former co-worker in 2006. It took a $36.5 million charge in the second quarter of 2011 as an accrual for the judgment and associated legal fees...