- At Home Group (HOME -16.6%) reported Q3 sales growth of 25.5% Y/Y to $267.18M, driven by addition of 29 stores and a comparable store sales increase of 5.2%.
- Ended quarter with 173 stores in 36 states, an increase of 20.1% Y/Y.
- Q3 Gross margin improved by 276 bps to 32.2%; operating margin improved by 277 bps to 7.2% and Adj. operating margin improved by 170 bps to 7.7%.
- Adj. EBITDA increased by 41.4% Y/Y to $39.08M and margin improved by 165 bps to 14.6%.
- SG&A expenses increased by 26.2% Y/Y to $65.3M (NYSE:MMM).
- Net cash provided by operating activities YTD was $30.71M, compared to $36.46M a year ago.
- Company had Cash, cash equivalents and restricted cash YTD of $15.41M.
- Net inventories were at $349.4M (+25.8% Y/Y). Total liquidity was $116.9M and Total debt was $297M.
- 4Q19 Guidance: Net sales $352M; EPS $0.44-0.47 and Adj. EPS $0.45-0.48.
- FY19 Guidance: Net sales $1.159-1.164B; EPS $0.73-0.76; Adj. EPS $1.28-1.31; Gross margin expansion ~75 bps; effective tax rate of 22% and Capex $225-235M.
- Previously: At Home Group beats by $0.03, beats on revenue (Dec. 6)
- Now read: Daily Insider Ratings Round Up 10/24/18
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