“The fourth quarter was a very strong finish to a transformational year for At Home. We delivered comps of nearly 31% for the quarter, leading to record-setting full year comps above 19% and free cash flow improvement of more than $400 million,” said Lee Bird, At Home’s Chief Executive Officer.
Highlights from the report include:
- Delivers Q4 net sales increase of 41.3% to $562.0 million and comparable store sales increase of 30.8%
- Achieves record Q4 net income of $72.7 million and EPS of $1.08
- Drives Q4 Adjusted EBITDA1 increase of 94.4% to $119.6 million
- Delivers Fiscal 2021 net sales increase of 27.3% to $1.737 billion and comparable store sales increase of 19.4%
- Lowers long-term debt to $314.3 million and improves leverage ratio1 to 0.5x from 3.2x last year
“As we look forward, we have never been more confident in our ability to capture the large opportunity ahead. We are in the early innings of many exciting initiatives, and we remain focused on delivering strong and consistent results. We are prioritizing our efforts in three key areas: new customer retention and growth, optimizing our inventory position, and the enhanced execution of our At Home 2.0 strategy. With the resumption of new store openings, we have reignited a key growth engine on our long-term journey to 600+ stores. We believe the tailwinds of strong home sales, nesting and de-urbanization are likely to continue over the foreseeable future, and we are excited to be a key player taking share in a large and growing industry,” Bird added.
Source: At Home Press Release
Photo Credit: House Beautiful
About At Home Group Inc.
At Home (NYSE:HOME), the home decor superstore, offers more than 50,000 on-trend home products to fit any budget or style, from furniture, mirrors, rugs, art and housewares to tabletop, patio and seasonal decor. At Home is headquartered in Plano, Texas, and currently operates 219 stores in 40 states. For more information, please visit us online at investor.athome.com.