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At Home Group (NYSE: HOME) | Company Profile, History, Competitors


At Home Group (NYSE: HOME) is a home furnishings retailer that focus on providing home decor at everyday low prices. As of 2017, At Home operates 150 stores in 34 states. The company was formed in 1979 and headquartered in Plano, TX.

At Home Group was founded in Scherz, TX.  It provides an unique big box format that offers customers a flexible browsing experience. Nearly all the products in the store is private label or designed for At Home stores.

Store Concept

The store sizes have a flexible format and range from 80,000 to 165,000 square feet. The big-box format of the store offers a relaxed browsing experience for customers who tend to spend one to two hours in the store.

The stores offer over 50,000 SKUs of which 70% is unbranded, private label, or designed for At Home. The SKU count can be four to eight times those of other retailers. The stores change 20,000 SKUs annually to keep the assortment fresh.

Suppliers and Logistics

Roughly 60% of its products are supplied from foreign countries. The company has more than 500 vendors with no single vendor representing more than 5% of sales.

The company has one distribution center in Plano, TX.

History

At Home was founded in 1979 under the Garden Ridge brand. Founder Eric White opened his first store "Garden Ridge Pottery" in Schertz, TX. The second store was opened in 1986 in Houston.

In 1995, the company went public with 12 stores. In 1998, then CEO Armand Shapiro and shareholder Three Cities Research took the company private in an LBO. In 2004, the company collapsed and went into Chapter 11 bankruptcy.

in 2005, the company reemerged from bankruptcy after closing nine stores and renegotiating leases on 30 other stores. Three Cities Research invested $25 million into the company post-bankruptcy.

In 2011, Three Cities Research sold the company to AEA Investors, a private equity firm. Under new private equity ownership, the company experimented with new store layouts focusing on home furnishings.

In 2014, Garden Ridge was rebranded as At Home. In 2016, the company went public as At Home.

Competitors

The main brick and mortar competitors are William's Sonoma and Bed Bath & Beyond. The main online competitors are Wayfair and Amazon.

Management

Lewis L. Bird III (CEO): Lewis Bird serves as CEO since 2013. Prior, he was a Managing Director at The Gores Group. He had also served as EVP New Business at Gap, VP Finance & Operations at Gateway and a regional President at Nike. He graduated with BA from Ithaca College and MBA from Babson College.

Judd T. Nystrom (CFO): Judd Nystrom serves as CFO since 2013. Prior, he was SVP Finance at Advance Auto Parts and Senior Director at Best Buy.

Financials

 $ USD (mm) FY1/31
 2014 2015 2016 2017 2018
 Revenues$404 
$498 
$622 
$766 
 $951
 Gross Profit$132 
 $162 
 $200 
 $248 
 $307
 Operating Profit$19 
 $46 
 $62 
 $73 
$87
 Net Income($22)
($0)
$4 
 $27 
$32
 EPS($0.44)($0.01)$0.07
$0.48 
$0.50


At Home Group
 
  Ticker     NYSE: HOME
  Industry Retail
  Founded 1979
  Headquarters Plano, TX
  Locations 150 (2017)
  Revenues
$951mm (2017)
  Employees  4,400 (2017)
  Website athome.com