PLANO, Texas — At Residence Group Inc., the house décor superstore, posted a web gross sales improve of 41.3% to $562 million for the fourth quarter ended Jan. 30, up from $397.7 million within the fourth quarter of final yr.
The corporate additionally posted a report This fall web revenue of $72.7 million in contrast with a $224 million web loss in final yr’s fourth quarter. And, the retailer introduced fourth-quarter earnings per share of $1.08 in contrast with a unfavourable $3.50 in final yr’s fourth quarter.
“The fourth quarter was a really sturdy end to a transformational yr for At Residence,” stated Lee Fowl, firm chairman and CEO. “We delivered comps of practically 31% for the quarter, resulting in record-setting full-year comps above 19% and free money movement enchancment of greater than $400 million.”
Fowl stated the corporate achieved the outcomes regardless of unprecedented challenges in the course of the yr, together with mandated retailer closures and stock constraints.
“Our unmatched breadth and depth of assortment at on a regular basis low costs, low-cost construction and omnichannel focus stay key differentiators for us,” he stated.
Fowl stated the corporate is prioritizing its efforts in three key areas: new buyer retention and progress, optimizing the stock place, and the improved execution of the corporate’s At Residence 2.0 technique.
The corporate plans to open 15 new shops this yr, and Fowl stated the brand new fiscal yr has reignited a key progress engine on its long-term journey to greater than 600 areas.
For the complete yr, At Residence Group delivered a web gross sales improve of 27.3% to $1.737 billion in contrast with $1,365 billion within the final fiscal yr. Comparable retailer gross sales elevated by 19.4%, pushed by sturdy demand, in keeping with the corporate and gross revenue elevated 55.1% to $601.6 million from $388 million within the final fiscal yr. Earnings per share had been a unfavourable $2.32 in contrast with earnings per share of unfavourable $3.35 a yr in the past.
Through the quarterly earnings name, Fowl stated the variety of customers who’ve joined the shop’s membership program, Insider Perks, elevated by 40% in 2020, and Newsweek named the system as one of many nation’s finest membership applications.
Additionally on the decision, the corporate stated it’s diversifying sourcing to acquire items from a broader combine of nations to be able to fight tariffs and merchandise backlogs.