At Home Group (HOME) reported earnings on Wed 4 Sept 19 (a/h)

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At Home Group beats by $0.03, reports revs in-line, comps -0.4%; guides OctQ EPS below consensus, guides OctQ revs in-line; reaffirms FY20 EPS guidance, guides FY20 revs in-line

Reports Q2 (Jul) earnings of $0.18 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $0.15; revenues rose 19.0% year/year to $342.32 mln vs the $343.16 mln S&P Capital IQ Consensus.

• Reports Q2 comps of -0.4% vs prior guidance of -1% to +1%.
• Gross margin decreased 450 basis points to 29.3% from 33.8% in the prior year period primarily as a result of product margin contraction due to incremental markdowns, increased occupancy costs resulting from both the adoption of ASC 842 "Leases" as well as fiscal 2020 and 2019 sale-leaseback transactions, and costs associated with opening the Company's second distribution center.
• Adjusted operating margin decreased 300 basis points on a recast basis to 6.8% of net sales driven by the gross margin and adjusted SG&A1 factors described above.

Co guides to Q3 (Oct) adjusted EPS of $(0.04)-(0.01) vs consensus of $0.05; guides to Q3 revenue of $312-317 mln vs consensus of $316.9 mln. Guides to Q3 comps of -2.5% to -0.5%.

Co issues guidance for FY20, reaffirms EPS of $0.67-0.74, excluding non-recurring items, vs. $0.68 S&P Capital IQ Consensus; sees FY20 revs of $1.372.5-1.387.5 bln (Prior $1.370-1.390 bln) vs. $1.38 bln S&P Capital IQ Consensus.

• Sees Gross Margin in the range of 29.2-29.4% (Reaffirm)
• Adjusted Operating Margin in the range of 6.6-6.9% (Reaffirm)
• Full year comp guidance lowered slightly to -1.5% to +0.5% from prior guidance of -1% to +1%.

At Home Group (HOME) reported earnings on Thur 6 June 19 (b/o)

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At Home Group misses by $0.01, reports revs in-line; guides Q2 EPS below consensus, revs below consensus; guides FY20 EPS below consensus, revs below consensus

• Reports Q1 (Apr) earnings of $0.03 per share, $0.01 worse than the S&P Capital IQ Consensus of $0.04; revenues rose 19.6% year/year to $306.3 mln vs the $305.43 mln S&P Capital IQ Consensus.
  • Q1 comparable store sales decreased 0.8%
• Co issues downside guidance for Q2, sees EPS of $0.14-0.17 vs. $0.27 S&P Capital IQ Consensus; sees Q2 revs of $340-345 mln vs. $358.71 mln S&P Capital IQ Consensus.
  • Q2 Comp store sales; (1)% to 1%
• Co issues downside guidance for FY20, sees EPS of $0.67-0.74 vs. $1.03 S&P Capital IQ Consensus; sees FY20 revs of $1.37-1.39 bln vs. $1.4 bln S&P Capital IQ Consensus.
  • FY20 Comp store sales: (1)% to 1%

At Home Group (HOME) reported earnings on Wed 27 March 19 (b/o)

** charts after earnings **

 

At Home Group misses by $0.01, reports revs in-line, comps +2.1%; guides Q1 EPS, revs below consensus; guides FY20 EPS, revs in-line

• Reports Q4 (Jan) earnings of $0.47 per share, excluding non-recurring items, $0.01 worse than the S&P Capital IQ Consensus of $0.48; revenues rose 20.6% year/year to $354.07 mln vs the $351.72 mln S&P Capital IQ Consensus; comparable store sales increased 2.1%
• Co issues downside guidance for Q1, sees EPS of $0.03-0.04, excluding non-recurring items, vs. $0.19 S&P Capital IQ Consensus; sees Q1 revs of $300-305 mln vs. $315.10 mln S&P Capital IQ Consensus; sees comps flat to slightly positive
• Co issues in-line guidance for FY20, sees EPS of $1.02-1.08, excluding non-recurring items, vs. $1.05 S&P Capital IQ Consensus; sees FY20 revs of $1.39-1.41 bln vs. $1.4 bln S&P Capital IQ Consensus; sees comps +LSD
• Co also announced the promotion of Peter Corsa to President. Mr. Corsa will also continue to serve as the company's Chief Operating Officer.

At Home (HOME) began trading on the NYSE on 4 August 2016

Home décor retailer At Home is the first retailer to IPO this year

• Sector: Consumer Cyclical
• Industry: Specialty Retail
• Full Time Employees: 5,364
• Founded in 1979 
• Headquartered in Plano, Texas
• https://www.athome.com/

The brick-and-mortar retailer on Thursday debuted on the New York Stock Exchange under the ticker symbol HOME, with shares most recently trading at $15.15 apiece—just 15 cents above the issue price.

At Home is unprofitable despite the fact that revenue is growing steadily, reaching nearly $500 million last year as the retailer continues to sell more pillows, furnishings, and other home goods using a low pricing strategy that requires few discounts.

Chief Executive Lee Bird shrugged off the initial market response. “We are a high growth retailer,” he says. “We believe we are an attractive company to investors because we will deliver on the growth expectations.”

The store growth story at At Home is also alluring. The retailer operates 115 stores across 29 states but sees potential to expand the concept to as many as 600 locations. It hasn’t yet addressed some of the biggest retail markets, including California and the New York tri-state area. But Bird says results are encouraging in similar markets, like Phoenix and D.C., indicating the concept can be successful when expanded to more states.

Betting on At Home means investors are comfortable with the retailer’s all-in strategy on physical stores. It doesn’t yet operate an e-commerce business and has a very minimal social media presence. At Home says it hasn’t yet committed to eventually conducting a business online.