Booming sales of 6 categories of commodities drive At Home's performance soaring 44%
Source: Stephen Updated: 2020-11-07 Recommended Level:
Related tags
Wall Decorations Halloween At Home Home Market Observation Household Textile Kitchen Art Ornaments Christmas Holiday Storage Information Advertising Pictures
  WeChat image_20201107092611.jpg



   The booming sales of six categories of commodities drove At Home's performance to soar by 44%. The preliminary results in the third quarter exceeded the strong performance in the second quarter. The increase in the proportion of direct purchases ensured sufficient inventory.


   In the initial report of the third fiscal quarter released by At Home, the company achieved outstanding results of 44% increase in same-store sales. Chairman and CEO Lee Bird said that the best performing products include wall decorations, home textiles, art accessories, kitchenware, leisure and entertainment, and home storage. Bird believes: "We believe that At Home will continue to gain an important market share and become a major winner in the field of home decoration."


The company's third-quarter performance highlights are as follows:


Same-store sales exceeded the historical record set in the second quarter.


90% of autumn products such as Halloween and Thanksgiving have been sold at full price, while only 70% of the products were sold in the same period last year. Christmas products generated strong demand, and the sales plan was completed ahead of schedule in the third quarter.


The total home series, launched by designer Grace Mitchell last month, is particularly strong in decoration, home textiles and furniture.


The proportion of At Home direct purchases has increased from 15% last year to 20%. In the next two years, it is expected to reach a 30% direct mining ratio.


The company's loyalty program added 2.4 million members in the third quarter alone, and nearly 5 million members in the past two quarters. The number of members is now 8.3 million, and it is still growing.


 


The preliminary data for the third quarter ending October 24 also includes:


Net sales are approximately US$470 million, a year-on-year increase of 47%


Total liquidity (cash plus existing available credit) exceeds $350 million


   At Home, which was once under-respected, suddenly exerted its strength during the epidemic this year and is looking forward to greater development. "The macro trend of de-urbanization and nesting of people's lives will continue to benefit At Home", Bird is confident in the future.