One home goods store has actually seen its sales skyrocket throughout the pandemic, with customers flocking to its web site and also shopping for brand-new patio furniture and office accessories. And also it has big objectives to grow, while many merchants are losing weight, or some in its classification like Pier 1 Imports are going out of business totally.
The Chief Executive Officer of Plano, Texas-based At Home informed CNBC’s Kelly Evans Friday mid-day that the business might expand from the 219 location it has today to greater than 600 stores across the country.
“We’re a growth company,” Chief Executive Lee Bird said. “We’ve been growing almost 20% … for the past seven years.”
While some have been struggling with the stay at home orders and seen sales tumble, In At Home company is flourishing, according to a recent initial revenues record.
Earlier today, At Home launched preliminary, unaudited results for its newest quarter ended July 25. It stated quarterly same-store sales are expected to be up 42%. And At Home’s second-quarter net income is projected to be least $82 million, with sales totaling to about $515 million.
“We think this is going to last for some time,” Bird said Friday about people investing in their homes. “People are going to feel a lot more comfortable staying at home than being out. … After 9/11, people stayed at home … and that was a multi-year benefit for our industry.”
At Home shares have actually skyrocketed greater than 123% this year. The company has a market cap of $778.6 million.