At Home Group Inc. (NYSE:HOME) Q2 2021 Earnings Conference Call - Final Transcript

Sep 01, 2020 • 04:30 pm ET


At Home Group Inc. (NYSE:HOME) Q2 2021 Earnings Conference Call - Final Transcript


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Greetings. Welcome to the At Home Second Quarter Fiscal Year 2021 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] Please note, this conference is being recorded.

I will now turn the conference over to your host, Arvind Bhatia. You may begin.

Arvind Bhatia

Good afternoon, everyone, and thank you for joining us today for At Home's second quarter fiscal year 2021 earnings results conference call.

On the call today are Chairman and Chief Executive Officer, Lee Bird; President and Chief Operating Officer, Peter Corsa; and Chief Financial Officer, Jeff Knudson. Lee will begin by updating you with a high-level discussion of the results for the second quarter and a few highlights from our ongoing third quarter. Peter will then provide an update on our operational, supply chain and inventory management initiatives. Jeff will provide color on the actions we've taken to optimize our balance sheet, a quick review of our financial results for the quarter and financial highlights from the third quarter.

Please note that we will not be discussing financial guidance today. 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 year 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, market share, competition, future capital expenditures, future cash flows, the impact of tariffs, and the impact of the global outbreak of the COVID-19 pandemic 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.

Any discussion during this call of our results for the third quarter to-date will be provided to help investors understand and assess the near-term impacts of the COVID-19 pandemic, but are subject to variability and may not be indicative of our results or transfer any full reporting period.

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