At Home Reaches $1 Billion In Sales

At Home powered through its fourth quarter, and capped off a strong performance by reaching over $1 billion in sales for its fiscal year.

For the fourth quarter ended January 26, 2019, net sales increased 20.6% to $354.1 million from $293.7 million in the previous fourth quarter. Comparable store sales increased 2.1%. Net income was $29.6 million compared to $9.9 million in the fourth quarter of fiscal 2018. EPS was $0.45 compared to $0.15 in the fourth quarter of fiscal 2018.

For the full fiscal year, net sales increased 22.7% to $1.165 billion from $950.5 million in fiscal 2018. Comparable store sales increased 2.7%. Net income increased 54% to $49 million from $31.8 million in fiscal 2018. EPS grew to $0.74 from $0.50 in fiscal 2018.

Lee Bird, chairman and CEO, At Home, stated, “We are pleased with our fourth quarter results that exceeded both our topline guidance and the midpoint of our pro forma adjusted earnings outlook as we continued investing across the business for the long term. The fourth quarter was our 19th consecutive quarter of over 20% sales growth and our 20th straight quarter of positive comparable store sales increases, capping another strong year for At Home. Through sales growth of nearly 23%, we became a billion-dollar retailer in fiscal 2019. We also expanded our footprint to 180 stores in 37 states as we progress toward our long-term goal of more than 600 stores nationwide. Our fiscal 2019 new store class once again delivered record new store productivity, demonstrating the continued strength of our highly differentiated, value-focused model.”

Bird added, “We look forward to another great year in fiscal 2020, notwithstanding a softer start to the first quarter due to unfavorable weather and a late-season Easter. We remain committed to our proven playbook, the strategic priorities that have driven our success and our philosophy of reinvestment as we open our second distribution center this year. With the compelling strength and depth of our new store pipeline, the effectiveness of our merchandising initiatives and our progress in elevating the customer experience, we look forward to delivering on our goals for fiscal 2020 and beyond.”