Shares of home decor and accessories company At Home Group (HOME) - Get Report posted a double-digit drop on Wednesday after the company reported fiscal fourth-quarter earnings that missed analysts' forecasts, and provided fiscal first-quarter guidance well below market expectations.
At Home shares plunged almost 18% on Wednesday, falling $4.06 to $18.78 on the New York Stock Exchange, after the company reported fourth-quarter earnings of 45 cents a share, below analysts' estimates of 48 cents.
Net income for the quarter came in at $29.6 million vs. $9.86 million, or 15 cents a share, in the comparable year-earlier quarter. Sales for the 13 weeks ended Jan. 26 were $354 million vs. $293.7 million a year earlier.
However, the home-decor retailer said it expects first-quarter adjusted earnings of 3 cents to 4 cents a share vs. the 20 cents average of estimates. The company also forecast quarterly sales in the range of $300 million to $305 million, and said it expected comparable-store sales to remain flat or increase slightly.
Analysts, on average, expect sales of $303 million for the period.
The company said it expanded its footprint to 180 stores in 37 states as it continues to work toward its long-term goal of more than 600 stores nationwide.
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