8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):October 29, 2008

AARON RENTS, INC. 

(Exact name of Registrant as Specified in its Charter)

Georgia	1-13941	58-0687630
(State or other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(IRS Employer Identification No.)

309 E. Paces Ferry Road, N.E. Atlanta, Georgia	30305-2377
(Address of principal executive offices)	(Zip code)

Registrant’s telephone number, including area code: (404) 231-0011

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

Furnished herewith as Exhibit 99.1 are restated unaudited consolidated statements of earnings of Aaron Rents, Inc. (the “Company”) for the three-month periods ended March 31, 2008, June 30, 2008, March 31, 2007, June 30, 2007, and for the fiscal year ended December 31, 2007. These statements have been restated to report the net earnings of the Company’s Aaron’s Corporate Furnishings business as discontinued operations for all periods presented.

As previously reported, on September 15, 2008, the Company announced that it had entered into an agreement to sell substantially all of the assets of its Aaron’s Corporate Furnishings business to CORT Business Services Corporation and to transfer certain liabilities of the business to CORT. As consideration for the sale, the Company anticipates receiving approximately $72 million in cash plus payments for certain accounts receivable, subject to certain adjustments. Subject to customary closing conditions, it is anticipated that the transaction will close in November. It is not expected that the Company will record a material gain or loss on the sale.

Pursuant to Statement of Financial Accounting Standards No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” the Company will no longer include the revenues and expenses of the Aaron’s Corporate Furnishings business on the Company’s statement of earnings, and will instead report net earnings of the business as discontinued operations in future financial statements. Prior periods will be restated to reflect this change in accounting treatment and the assets of the business will be reflected as assets held for sale on the Company’s balance sheet until the transaction closes.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Restated Unaudited Consolidated Statements of Earnings of Aaron Rents, Inc. for the Three-Month Periods Ended March 31, 2008, June 30, 2008, March 31, 2007, June 30, 2007, and for the Fiscal Year Ended December 31, 2007

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AARON RENTS, INC.
	By:	/s/ Gilbert L. Danielson
Date: October 29, 2008		Gilbert L. Danielson Executive Vice President, Chief Financial Officer

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EX-99.1

Aaron Rents, Inc. and Subsidiaries

Consolidated Statements of Earnings

(In thousands, except per share amounts)

(Unaudited)

	Three months ended								Twelve months ended
	March 31, 2008		June 30, 2008		March 31, 2007		June 30, 2007		December 31, 2007
Revenues:
Rentals and Fees	$	299,675	$	294,777	$	265,802	$	257,158	$	1,045,804
Retail Sales		12,389		9,744		10,242		7,828		34,591
Non-Retail Sales		85,417		66,072		70,253		56,654		261,584
Franchise Royalties and Fees		11,039		10,894		9,914		9,602		38,803
Other		4,161		5,527		6,559		2,549		14,157
Total		412,681		387,014		362,769		333,792		1,394,939
Costs and Expenses:
Retail Cost of Sales		7,428		6,145		6,343		4,949		21,201
Non-Retail Cost of Sales		77,896		60,574		64,130		52,130		239,755
Operating Expenses		177,901		175,903		147,749		149,454		617,419
Depreciation of Rental Merchandise		109,710		106,928		99,328		97,064		391,538
Interest		2,199		2,151		1,688		1,695		7,587
Total		375,134		351,701		319,238		305,292		1,277,500
Earnings from Continuing Operations Before Taxes		37,547		35,313		43,531		28,500		117,439
Income Taxes		15,055		12,965		16,342		10,862		44,098
Net Earnings from Continuing Operations		22,492		22,348		27,189		17,638		73,341
Earnings from Discontinued Operations, Net of Tax		2,261		931		2,018		2,019		6,933
Net Earnings	$	24,753	$	23,279	$	29,207	$	19,657	$	80,274
Earnings Per Share:
From Continuing Operations	$	.42	$	.42	$	.50	$	.32	$	1.35
From Discontinued Operations		.04		.02		.04		.04		.13
Total	$	.46	$	.44	$	.54	$	.36	$	1.48
Earnings Per Share Assuming Dilution:
From Continuing Operations	$	.41	$	.41	$	.49	$	.32	$	1.33
From Discontinued Operations		.04		.02		.04		.04		.13
Total	$	.46	$	.43	$	.53	$	.36	$	1.46
Weighted Average Shares Outstanding		53,492		53,262		54,161		54,191		54,163
Weighted Average Shares Outstanding Assuming Dilution		54,156		54,076		54,992		55,065		55,082