- Expects Q4 and fiscal 2020 net sales and comparable store sales toward high end of previous outlook
- Raises low end of Q4 and fiscal 2020 adjusted EPS1,2 outlook
At Home Group Inc. (NYSE: HOME), the home décor superstore, today provided an update on its expected financial results for the fourth quarter and fiscal year ending January 25, 2020.
Lee Bird, Chairman and Chief Executive Officer, stated: "We are pleased with the improved performance of our business and remain on track to exit the fiscal year with a healthy inventory position and significant improvement in annual free cash flow. We look forward to sharing our fiscal 2020 results and fiscal 2021 outlook during our fourth quarter earnings call in late March."
Fourth Quarter and Fiscal 2020 Outlook Update
The Company now expects fourth quarter net sales and comparable store sales toward the high end of its previously provided outlook of $385.0 million to $393.0 million and (6.0)% to (4.0)%, respectively, and updates its adjusted EPS1,2 outlook to $0.33 to $0.36 from prior guidance of $0.31 to $0.36.
The Company also expects fiscal 2020 net sales and comparable store sales toward the high end of its previously provided outlook of $1,352.0 million to $1,360.0 million and (2.6)% to (2.0)%, respectively, and updates its adjusted EPS1,2 outlook to $0.53 to $0.56 from prior guidance of $0.51 to $0.56.
ICR Conference Details
Mr. Bird and Chief Financial Officer Jeff Knudson are scheduled to present at the 2020 ICR Conference in Orlando, Florida, on Monday, January 13, 2020, at 4:30 pm Eastern Time. A live audio webcast of the fireside chat will be accessible under News & Events at investor.athome.com. An archived replay will be available at investor.athome.com for approximately 90 days following the webcast.
Adjusted EPS is a non-GAAP financial measure. For additional information about our use of non-GAAP measures, including, where applicable, reconciliation to the most directly comparable financial measures presented in accordance with GAAP, please see "Non-GAAP Measures" in Exhibit 99.1 to our Current Report on Form 8-K for the quarter ended October 26, 2019 filed with the SEC on December 4, 2019.
We have not presented a quantitative reconciliation of the forward-looking non-GAAP measure adjusted EPS to its most directly comparable GAAP financial measure because it is impractical to forecast certain items without unreasonable efforts due to the uncertainty and inherent difficulty of predicting the occurrence and financial impact of such items as well as the periods in which such items may be recognized. Such items include the gain to be recognized as a result of sale-leaseback transactions as well as the tax impact of certain stock-based compensation events.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can generally identify forward-looking statements by our use of forward-looking terminology such as "anticipate", "are confident", "assumed", "believe", "continue", "could", "estimate", "expect", "intend", "look forward", "may", "might", "on track", "outlook", "plan", "potential", "predict", "reaffirm", "seek", "should", or "vision", or the negative thereof or other variations thereon or comparable terminology. In particular, statements about our outlook and assumptions for financial performance for the fourth quarter and fiscal year 2020 and beyond, as well as statements about the markets in which we operate, expected new store openings, our real estate strategy, growth targets, potential growth opportunities, impact of expected stock option exercises, future capital expenditures, and estimates of expenses we may incur in connection with equity incentive awards to management and our expectations, beliefs, plans, strategies, objectives, prospects, assumptions or future events or performance contained in this document are forward-looking statements.
We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. These and other important factors, including those factors described in "Item 1A. Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended January 26, 2019, "Item 1A. Risk Factors" of our Quarterly Report on Form 10-Q for the quarter ended October 26, 2019 and other reports that we file with the Securities and Exchange Commission ("SEC"), may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements contained in this release are not guarantees of future performance and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this release. In addition, even if our results of operations, financial condition and liquidity, and events in the industry in which we operate, are consistent with the forward-looking statements contained in this release, they may not be predictive of results or developments in future periods.
Any forward-looking statement that we make in this release speaks only as of the date of such statement. Except as required by law, we do not undertake any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this document.
About At Home Group Inc.
At Home (NYSE: HOME), the home décor superstore, offers more than 50,000 on-trend home products to fit any budget or style, from furniture, mirrors, rugs, art and housewares to tabletop, patio and seasonal decor. At Home is headquartered in Plano, Texas, and currently operates 212 stores in 39 states. For more information, please visit us online at investor.athome.com.
Arvind Bhatia, CFA / Bethany Johns
972.265.1299 / 972.265.1326
Noelle Amos / Nicole Briguet
415.486.3231 / 212.704.8164