Ronald W. Allen

Aaron's Inc. on Tuesday said it plans to close 44 underperforming stores in the third quarter of fiscal 2014 and continue other cost-reduction initiatives in response to disappointing core business performance. The electronics, furniture and appliances rentals retailer also revised its earnings guidance downward for the second quarter. The company praised the performance of its recently purchased Progressive Finance unit. "With that said, we're disappointed with our core business results and are taking aggressive action to respond to the challenging economic environment and the evolving industry in which we operate," said Ronald W. Allen, CEO, Aaron's. 

Aaron's Inc announced that President and Chief Executive Officer Ronald W. Allen has been elected by its Board of Directors as Chairman. Allen succeeds Aaron's founder R. Charles Loudermilk who retired as Chairman in mid-September. Allen has been on the...