At Home Group’s net sales jump 47.5% in the fiscal third quarter
- At Home Group’s net sales jump 47.5% in the third quarter.
- The retailer reports £35.10 million of net income in Q3.
- At Home Group values its total liquidity at £268.58 million.
At Home Group Inc. (NYSE: HOME) said on Tuesday that its net income in the fiscal third quarter printed at £35.10 million that translates to per-share earnings of 53 pence. In comparison, the big box retail chain had posted £10.88 million of net income in the same quarter last year or 17.14 pence per share.
At Home also said that its adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) noted a massive 184.9% annualised growth in the third quarter to £69.90 million. In terms of net sales, the American company reported a 47.5% year over year increase in Q3 while its comparable-store sales climbed by an even broader 44.1% in the recent quarter.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
In the prior quarter (Q2), At Home had recorded a 50.5% growth in its net sales, as per the report published in the first week of September.
At Home Group values its total liquidity at £268.58 million
The Plano-based company improved its leverage ratio in the fiscal third quarter to 0.9x. At Home reduced its long-term debt in Q3 to £234.37 million and valued its total liquidity at the end of the third quarter at £268.58 million.
At Home currently operates 219 stores in total located in 40 states. The NYSE-listed firm didn’t open any new store in the recent quarter. It also refrained from giving its guidance for the future due to the COVID-19 uncertainties. The Coronavirus pandemic has so far infected more than 14 million people in the United States and caused over a quarter million deaths.
CEO Lee Bird’s comments on Tuesday
According to CEO Lee Bird:
“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.”
At Home Group was reported more than 1.5% up in after-hours trading on Tuesday. On a year to date basis, the stock is now close to 250% up. At the time of writing, At Home Group has a market capitalisation of £1.18 billion.