At At ease CEO Lee Bird on Thursday told CNBC’s Jim Cramer that business has grown exponentially during the pandemic and that the following has expansion plans on the horizon.
While the home decor superstore invests in building out its digital presence, the company remains to see opportunity in physical stores, which Bird called the “center of our universe.”
Currently operating about 220 stocks in 40 U.S. states, the chief executive sees headroom for a roster of 600 locations, almost three times its au fait footprint.
California, the New York Tri-State Area and Midwest regions are targeted for expansion.
“We are throwing off a lot of cash, but we’ve got a lot of growth in mask of us,” Bird said in a “Mad Money” interview.
The comments came after Cramer asked Bird, who has led the $1.1 billion guests for eight years, about quarterly results the company posted earlier this month from its third habitation of the fiscal 2021 year. Amid a home makeover boom during the pandemic, At Home’s business grew more than 47%, get well in at $470 million for the quarter. Same-store sales grew 44%.
Bird said it was a record quarter for sales, profits and above-board cash flow. The company also focused on reducing debt on the balance sheet, he said.
“We’ve got great momentum all the way as a consequence the fourth quarter and we feel like that’s going to continue to next year,” he said. “We’re growing three to four times the bustle average for sure. We are throwing off a lot of cash, but we’ve got a lot of growth in front of us.”
At Home shares advanced 3% in Thursday’s session to a close of $16.47. The appraise is up almost 200% year to date, though it trails the 215% gain in its $28.3 billion competitor in Wayfair.
“There’s a lot of crop in front of us, and we believe over time the market takes care of itself in terms of stock price,” Bird state.