At Home Group Inc. Provides Update Ahead of ICR and Wolfe Research Events
At Home Group Inc. (NYSE: HOME), the home décor superstore, today provided an update on comparable store sales for the fourth quarter ending January 30, 2021 as well as current liquidity.
Lee Bird, Chairman and Chief Executive Officer, stated: “Fourth quarter comps for both our everyday and seasonal assortments are playing out ahead of our expectations, and our balance sheet remains in great shape. We are excited about the continued strong momentum in our business and our inventory position as we head into fiscal 2022.”
Fourth Quarter Fiscal 2021 Update
- The Company expects Q4 comparable store sales of approximately 23% to 24% compared to prior expectation of a mid-to-high teens increase.
- As of the end of its fiscal month of December, the Company had total liquidity of $456 million, including $162 million in cash and $294 million in borrowings available under its credit facility. As previously reported, total liquidity as of the end of the third quarter of fiscal 2021 was $360 million, including $34 million in cash and $326 million in borrowings available.
Participation in Upcoming Conferences
- Mr. Bird and Chief Financial Officer Jeff Knudson will participate in a fireside chat at the Wolfe Research Hardlines/Broadlines Access Day today, January 8, 2021, at 1:50 p.m. Eastern Time.
- Mr. Bird and Mr. Knudson will also participate in a fireside chat at the ICR Conference 2021 on January 11, 2021 at 8:30 a.m. Eastern Time. Additionally, Mr. Bird will participate in a “No Place Like Home” panel on January 12, 2021 at 12:30 p.m. Eastern Time.
- Webcasts of both the ICR fireside chat and panel will be accessible live and for replay under News & Events at investor.athome.com.
This release contains forward-looking statements made pursuant to and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can generally identify forward-looking statements by our use of forward-looking terminology such as "anticipate", "are confident", "assume", "believe", "continue", "could", “emerge”, "estimate", "expect", "intend", “look ahead”, "look forward", "may", "might", "on track", "outlook", "plan", "potential", "predict", "reaffirm", "seek", "should", "trend", or “will”, or the negative thereof or comparable terminology regarding future events or conditions. In particular, forward-looking statements in this release include, without limitation, statements about our assumptions, goals, outlook, estimates, strategies and plans regarding future financial and operating performance, cash flows, liquidity, financial condition, inventory, existing or future markets in which we operate, new store openings and growth rates, market share, competition, capital expenditures, customer and macroeconomic trends, and the impact of the COVID-19 pandemic.