Eye on Retail: Fast-growing home décor superstore expands into new market
At Home Group Inc. is on the move.
The value-oriented home décor retailer opened two stores in January, including its first West Coast location, in Puyallup, Washington, along with a store in Gaithersburg, Md. With the new sites, At Home now operates 180 locations in 37 states.
“We remain very methodical about our growth,” said Lee Bird, chairman and CEO, At Home. “Our opportunistic real estate strategy is focused on repurposing existing big boxes as well as building new stores from the ground up. Our flexibility, coupled with the increasing productivity of these new stores, gives us the confidence to further expand our footprint from coast to coast.”
At Home’s strategy is to grow the brand domestically, with the long-term potential to expand to at least 600 stores. The retailer said it looks for vibrant retail centers with a compelling mix of other destination retailers, good visibility and easy access for customers.
“Our proprietary model has enabled us to open stores that perform extremely well,” said Bird. “For instance, fiscal 2018’s new stores averaged nearly $7 million of net sales and more than $2 million in profit during their first full year of operations.”
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