Home decorating retailer At Home files for IPO

AP News
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Posted: Sep 04, 2015 4:12 PM

NEW YORK (AP) — At Home Group, a chain of stores that sells furniture, rugs and other home goods, said Friday that it plans to become a publicly-traded company.

The company, founded in 1979, was formerly called Garden Ridge until it changed its name last year. At Home has 94 stores around the country. Stores opened at least a year averaged more than $6 million in sales annually, the company said. Its average store is 120,000 square feet.

The retailer did not say how many shares it expects to sell in an initial public offering, or how much they will cost, or when it will happen. It said it expects to raise as much as $100 million, but that number will likely change. It plans to use the money raised to pay off debt.

At Home expects to list its stock on the New York Stock Exchange under the ticker symbol "HOME."

The company reported a loss of $436,000 in the year ending Jan. 31, 2015, narrower than its loss of $22.3 million the previous year. In the latest year, its revenue rose 23 percent to $497.7 million.

Based in Plano, Texas, At Home Group Inc. also sells Christmas decorations, wall art, frames and plants.