At Home Group (HOME) Tops Q4 EPS by 1c; No 1Q or FY21 Outlook Due to 'Rapidly Evolving Uncertainty' from COVID-19 Outbreak

At Home Group (NYSE: HOME) reported Q4 EPS of $0.37, $0.01 better than the analyst estimate of $0.36. Revenue for the quarter came in at $397.7 million versus the consensus estimate of $397.7 million.

• Delivers 6th consecutive year of high teens net sales growth
• Increases Q4 net sales 12.3%; Q4 comparable store sales1 decrease 3.1%
• Delivers Q4 EPS of $(3.50) and Q4 pro forma adjusted EPS1 of $0.37
• Provides update on the impact of COVID-19

Lee Bird, Chairman and Chief Executive Officer, stated, "We were pleased with the momentum we saw in the back half of the fourth quarter as comparable store sales accelerated, and we exited the year with a healthy inventory position and $105 million in free cash flow2 improvement. We have been implementing key merchandising and marketing initiatives in fiscal 2021 to continue driving the business forward, and we remain focused on delivering great products at great prices.”

Mr. Bird continued, “Given the rapidly evolving situation with COVID-19, we have seen a notable slowdown in store traffic over the past two weeks. We are prioritizing the health and safety of our customers and team members by temporarily closing stores and rapidly accelerating our omnichannel capabilities. We have also taken swift and bold action to preserve liquidity and have proactively drawn down our revolving credit facility to give us increased financial flexibility. Due to this period of unprecedented uncertainty, we are not providing first quarter and fiscal year 2021 guidance at this time, but we remain confident in the long-term strength of our lean, flexible operating model and the significant whitespace opportunity that still lies ahead.”

Outlook & Key Assumptions

Given the unprecedented and rapidly evolving uncertainty related to COVID-19, the Company is not providing first quarter and fiscal year 2021 guidance at this time.

For earnings history and earnings-related data on At Home Group (HOME) click here.

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