At Home Group Inc. (NYSE:HOME) Q2 2020 Earnings Conference Call Transcript

Sep 04, 2019 • 04:30 pm ET

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At Home Group Inc. (NYSE:HOME) Q2 2020 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Greetings and welcome to At Home Second Quarter Fiscal 2020 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I'd now like to turn the conference over to your host Bethany Perkins, Director of Investor Relations.

Executive
Bethany Perkins Johns

Thank you, Dana. Good morning, everyone, and thank you for joining us today for At Home's second quarter of fiscal year 2020 earnings results conference call.

On the today are Chairman and Chief Executive Officer, Lee Bird; President and Chief Operating Officer, Peter Corsa; and Chief Financial Officer, Jeff Knudson. After the team has made their formal remarks, we will open the call to questions.

Before we begin, I need to remind you that certain comments made during this call may constitute forward-looking statements and are made pursuant to, and within the meaning of, the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. In particular, statements about our outlook and assumptions for financial performance for fiscal years 2020 and 2021 and our long-term growth targets, as well as statements about the markets in which we operate, expected new store openings, real estate strategy, potential growth opportunities, future capital expenditures, future cash flows and the expected impact of tariffs are forward-looking statements.

Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from such statements. Those are referred to in At Home's press release issued today and in filings that At Home makes with the SEC. The forward-looking statements made today are as of the date of this call and At Home does not undertake any obligation to update any forward-looking statements.

Finally, the speakers may refer to certain adjusted or non-GAAP financial measures on this call, such as adjusted EBITDA, adjusted operating income, pro forma adjusted net income and pro forma adjusted earnings per share, a reconciliation schedule showing the GAAP versus non-GAAP financial measures is available in At Home's press release issued today. If you do not have a copy of today's press release, you may obtain one by visiting the Investor Relations page of the website at investor.athome.com.

In addition, from time to time, At Home expects to provide certain supplemental materials or presentations for investor reference on the Investor Relations page of its website.

I will now turn the call over to Lee. Lee?

Executive
Lewis L. Bird III

Thank you, Bethany. Good afternoon, everyone, and thank you for joining us to discuss our results for the second quarter of fiscal 2020.

When we last spoke in early June I shared that our first quarter results were impacted by cold and wet weather that continued into Q2. I'm pleased that we navigated the unseasonable conditions in the first part of May and saw a two year trends and our business rebound afterward, including our results for the first two weeks of May, our Q2 comp store sales were modestly positive. We