Categories Consumer, Earnings

At Home Group Inc. (NYSE: HOME) Q4 2020 Earnings Snapshot

— Home decor company At Home Group Inc. (NYSE: HOME) reported adjusted earnings of $0.37 per share for the fourth quarter of 2020, compared to $0.47 per share last year. Analysts expected $0.36 per share.

— On a reported basis, it was a net loss of $224.05 million or $3.50 per share, compared to profit of $29.6 million or $0.45 per share last year

— Net sales increased 12% annually to $397.72 million during the three-month period, vs. $397.7 million expected; comparable store sales dropped 3.1%

— Opened a net of 32 stores since last year, representing an 18% increase; ended the fourth quarter with 212 stores in 39 states

— Recognized a non-cash goodwill impairment charge of $250 million for fiscal 2020, based on the results of an interim test

— Company not providing first-quarter and fiscal year 2021 guidance in view of the rapidly evolving uncertainty related to COVID-19

— Closed all stores temporarily due to the epidemic and is accelerating omni-channel capabilities

— Withdrew about $151 million from the revolving credit facility to enhance financial flexibility and to preserve liquidity

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