PLANO, Texas — Preliminary sales growth for At Home Group Inc., the home décor superstore, came in at approximately 47% for Q3 of fiscal 2021 which ended on Oct. 24. The company also posted a comparable store sales increase of approximately 44% for the third quarter.
“At Home’s third-quarter comparable store sales growth established a new high watermark for our business, even higher than our record second quarter,” said Lee Bird, At Home Group chairman and CEO.
“We believe we are continuing to gain meaningful market share and emerge as a major winner in the home décor space,” he added. “The successful execution of our At Home 2.0 strategies, including everyday low price campaigns, category reinventions, loyalty program expansion and omnichannel offerings, along with our healthy balance sheet, leave us well-positioned to thrive.”
Bird said the company should continue to benefit from favorable trends such as nesting and de-urbanization.
The company expects preliminary earnings per share of between 58 cents and 62 cents and total liquidity for the company of more than $350 million.
Insider Perks, the company’s loyalty program, grew 42% year-over-year to more than 8.3 million members.
On the preliminary earnings call, Bird said the company has launched curbside pickup capabilities and expanded the company’s buy-online-pick-up-in-store (BOPIS) offering to more than 97% of all stores. The company has also expanded delivery service to 75% of its stores and recently announced a new partnership with Postmates for small box and larger items.
Also on the call, Bird said three factors contributed to the growth in third-quarter sales. These included the fact that the company acted quickly to restock key furniture items in patio and garden through the summer and extending into the fall; they updated merchandising for fall and Halloween, which resulted in a 90% sell-through rate at full price; and the retailer’s Christmas assortment has experienced strong early demand and performed ahead of plan.
The company still plans to add an additional seven to ten stores during the next fiscal year.
“We feel really good about our approach of 10% unit growth year-over-year to get to 600 stores,” Bird said on the call. “We are in a great financial position and can pay down debt while considering the options in front of us moving forward.”
The company plans to release its official third-quarter results in early December.