At Home has released their Q3 comps, noting record-setting numbers. The report featured the following results:
- Delivers Q3 net sales increase of 47.5% and comparable store sales increase of 44.1%, to $470.0 million from $318.7 million in the third quarter.
- Achieves Q3 net income of $47.1 million and Q3 EPS of $0.71 compared to $(14.6) million and $(0.23), respectively, in the prior year period
- Increases Q3 Adjusted EBITDA by 184.9% to $93.8 million
- Lowers long-term debt to $314.5 million and improves leverage ratio1 to 0.9x
“We not only delivered record comps of 44% in the third quarter, but also generated strong earnings flow through as well as excellent free cash flow,” stated Lee Bird, Chairman and Chief Executive Officer of At Home.
The CEO also shared an optimistic outlook towards the future growth of the brand.
“Longer term, I couldn’t be more excited about our ability to expand our market share in a large, highly fragmented and growing industry. We have the potential to grow our store base nearly three times larger, and our real estate opportunities are only getting stronger. We also believe we can drive revenue per store significantly higher through both our in-store and omnichannel strategies. With our unique, value-oriented offering, talented team members, and growing loyalty base, we can be the home décor retailer of choice for years to come,” Bird said.
According the report, the company has opened a net 6 stores since the third quarter of fiscal 2020, representing a 2.8% increase.
Source: At Home – Press Release
Photo Credit: Chain Store Age
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.