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At Home Group Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2022 10-Q, filed Jun 4, 2021. Its latest SEC filing is a 4 from Aug 3, 2021.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Sells home furnishings and accent décor for home decorators through large-format stores and online shopping options.

How Did They Make Money?

Shoppers pay for merchandise when they take it at the store register; gift-card cash arrives when cards are sold, with the related sale counted when a shopper redeems one. Synchrony pays ongoing amounts tied to card purchases and joint marketing, plus a launch payment spread over the agreement’s initial seven-year term.

FY2020 revenue by product or service revenue
SegmentShareRevenue
Gift Card Redemption
Sold outright
0.9%
FY2017: 1.4%
Credit Card Program
0.2%
FY2017: 0.1%

Who Were Their Customers?

Home décor shoppers buy through At Home’s stores and online; online orders can be picked up in-store or curbside, or delivered locally from participating stores.

Did Revenues Turn Into Profits?

Not on paper. It lost $149.7M in FY2020, but brought in more cash than it spent: $350.5M of free cash flow.

Operating income, FY2020
−4% of revenue
▼ −53% (Loss) vs FY2019 (−$159.5M, −12%)
Net income, FY2020
−9% of revenue
▼ −30% (Loss) vs FY2019 (−$214.4M, −16%)
Free cash flow, FY2020
20% of revenue
▲ Now profitable vs FY2019 (−$141.2M, −10%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q1 FY2022, the three months to May 1, 2021
Revenue
▲ +183%
vs $189.8M in Q1 FY2021
Net income
▲ Now profitable
vs −$358.9M in Q1 FY2021
Gift Card Redemption share of revenue vs 1.2% in Q1 FY2021
  • Jul 23, 2021 Hellman & Friedman completed its acquisition of At Home At Home became an indirect wholly owned subsidiary, and its shares were removed from the NYSE.
  • Jun 17, 2021 At Home amended its merger agreement and raised the cash offer The revised agreement provided for a tender offer at $37.00 per share, followed by a merger.

Grew. Revenue grew 2.3x in 4 years, from $765.6M in FY2016 to $1.7B in FY2020, about 23% a year.

More ways to buy The older report described its website mainly as a way to browse products and inspire store visits; the latest describes online orders with in-store pickup, curbside collection and local delivery.

Revenue over time
Gift Card Redemption Credit Card Program
$2B$1B$0

Who Did They Compete With?

Competes with Bed Bath & Beyond, The Container Store, Ethan Allen, Havertys, Home Goods, Pier 1 Imports, Williams‑Sonoma, Costco, Target, Wal‑Mart Stores, Hobby Lobby, Jo‑Ann Stores, Michaels Stores, Big Lots, Burlington, and Tuesday Morning

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