At Home Boosts Comp Increase Estimate

Ahead of executive appearances at ICR and Wolfe Research events, the At Home Group updated comparable store sales expectations for the fourth quarter ending January 30, as well as its current liquidity position.

At Home reported that it expects fourth quarter comparable store sales gains of 23% to 24% versus the year-earlier period as well as prior company expectation of a mid-to-high teens increase. As of the end of its fiscal December, the company had total liquidity of $456 million, At Home stated, 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 fiscal 2021 third quarter was $360 million, including $34 million in cash and $326 million in borrowings available.

Lee Bird, At Home chairman and CEO, 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.”