At Home (store)

At Home is an American big box retail chain specializing in home decor products based in Plano, Texas.[1] The specialty retailer's stores each carry over 50,000 unique items across broad product categories including furniture, garden, home textiles, housewares, patio, rugs, seasonal decor, tabletop decor, and wall decor. At Home stores have a wide range of items; however, the company devotes a large portion of its space to seasonal merchandise.

At Home Group Inc.
Formerly
Garden Ridge (1979-2014)
Public
Traded asNYSEHOME
IndustrySpecialty retail
Founded1979; 41 years ago (1979) (as Garden Ridge Pottery)
Headquarters
Number of locations
213 (2019)[1]
Key people
Lewis L. Bird III[2]
(Chairman & CEO)
Peter S. G. Corsa
(COO & President)
ProductsFurniture
Patio and garden
Home textiles
Housewares
Rugs
Seasonal decor
Tabletop decor
Wall decor
RevenueIncrease US$1.17 billion (2019)[3]
Increase US$48.996 million (2018)[3]
Total assetsIncrease US$1.726 billion (2018)[4]
Total equityIncrease US$711 million (2018)[4]
Number of employees
5,364 (2018)
Websitewww.athome.com

In August 2016, the company went public. As of October 22, 2019, it operated 213 stores in 39 states and planned to add at least 400 more.[1][5][6] The average store is 110,000 square feet.[7]

Lewis L. (Lee) Bird III serves as Chairman of the Board, Chief Executive Officer and President for At Home. Bird joined the company in December 2012 and in a short time has transformed the 35-year-old Garden Ridge brand into the more consumer-relevant At Home retail chain. Prior to this, Bird served as President of Nike Affiliates for Nike Inc., Chief Operating Officer of Gap, and Chief Financial Officer of Old Navy.[8]

HistoryEdit

Founded in 1979 with one store in Schertz, Texas, the brand was created as Garden Ridge Pottery and was later renamed simply Garden Ridge.

 
Interior of an At Home in Rapid City, South Dakota

Investment firm Three Cities Research became the largest shareholder of Garden Ridge in 1999. Garden Ridge filed for Chapter 11 bankruptcy protection in 2004 amid failed lease negotiations and underwent a major reorganization that included closing ten stores in Texas, Georgia, Missouri, Florida, Ohio, and Tennessee.[9][10] After the reorganization, the corporation emerged from Chapter 11 in 2005.

AEA Investors acquired Garden Ridge in October 2011.[11]

In 2014, the company converted all stores to the At Home brand and floorplan, painting everything grey (from Garden Ridge's characteristic orange).[12]

The company publicly filed an S-1 on September 4, 2015.[13]

 
An At Home Storefront in Durham, North Carolina

At Home has undergone a rebranding project that included the previously stated name change and a store redesign. The rebranding project changed the use of orange color for advertising to a soft grey and blue. A house symbol stands in for the “o” in At Home, so there’s no confusion about what’s sold inside, CEO Lee Bird said.[14] This investment cost around $20 million.[7]

ReferencesEdit

  1. ^ a b c d "At Home Celebrates Five New Store Openings in October". Retrieved October 22, 2019.
  2. ^ "Board of Directors". investor.athome.com. Retrieved September 28, 2018.
  3. ^ a b "At Home Group Inc". Retrieved October 22, 2019.
  4. ^ a b "At Home Group Inc. Data". Retrieved July 3, 2019.
  5. ^ "Company Profile". investor.athome.com. Retrieved September 28, 2018.
  6. ^ Leu, Jon (April 3, 2018). "At Home store to move into former Shopko location at The Marketplace". The Daily Nonpareil. Council Bluffs, Iowa. Retrieved July 9, 2018.
  7. ^ a b "Garden Ridge to change its name to At Home, rebrand stores - Dallas Business Journal". www.bizjournals.com. Retrieved September 28, 2018.
  8. ^ "Board of Directors". investor.athome.com. Retrieved September 28, 2018.
  9. ^ "Garden Ridge bankruptcy won't affect Independence store". Kansas City Business Journal. February 2, 2004. Retrieved July 9, 2018.
  10. ^ "Garden Ridge files for bankruptcy, local stores unaffected". St. Louis Business Journal. February 2, 2004. Retrieved February 11, 2017.
  11. ^ Ward, Lisa (September 9, 2011). "AEA writes 50% equity check for $715M Garden Ridge LBO". The Deal. Archived from the original on February 23, 2013. Retrieved July 9, 2018.
  12. ^ Halkias, Maria (June 16, 2014). "Garden Ridge is evolving into At Home". Dallas Morning News. Retrieved June 27, 2014.
  13. ^ "At Home Group Inc. Announces Filing of Registration Statement for Proposed Initial Public Offering" (Press release). At Home Group. September 4, 2015. Retrieved July 9, 2018.
  14. ^ "Garden Ridge is evolving into At Home". Dallas News. June 16, 2014. Retrieved September 28, 2018.

External linksEdit