At Home anticipates record-setting Q2
At Home Group Inc. is feeling comfortable with preliminary second-quarter fiscal results.
The value home goods superstore chain released preliminary unaudited results for the second quarter ended July 25, 2020, that indicate the company had the best quarter in its history. These include net income of at least $82 million, net sales of approximately $515 million and same-store sales growth of approximately 42%.
In July 2020, At Home sold three of its properties in Grand Chute, Wis.; Cincinnati, Ohio; and Lutz, Fla., for a total of approximately $33 million. With the closing of the sale, the company entered into leases pursuant to which it leased back the properties. The company also credited pent-up demand and stimulus spending for boosting sales following its initial store reopening period.
“We are emerging from this pandemic stronger and even better positioned, and we believe we are gaining meaningful market share,” said Lee Bird, chairman and CEO, At Home. “As a home décor category killer, we are becoming the go-to place for consumers looking for a one-stop-shop that offers a wide and deep assortment, compelling everyday low prices, the convenience of omnichannel shopping, and safe social distancing afforded by our large store format.”
At Home operates 219 stores in 40 states.