Report: Plano-based Retailer At Home May Be Exploring a Sale

Plano-based At Home Group may be considering a sale of the company, according to a report from Reuters quoting people familiar with the matter.At Home is working with Bank of America to meet with potential buyers who are drawn to the company because of its poor stock price, according to the report published Thursday. Shares fell more than 20 percent Thursday after the company missed its fourth-quarter earnings forecast and warned about the first quarter and the full year.An At Home spokeswoman said the company "does not comment on market rumors or speculation."The retailer's stock price shot up Thursday morning. At Home went public in August 2016 and the stock price peaked last summer at more than $40 a share. But the stock price has steadily declined. It closed down more than 40 percent from a year ago on Wednesday at $18.99 a share.The big box home furnishings chain of 188 stores in 38 states has been growing sales by more than 20 percent a year. It opened 31 stores last year and while the company still has several new cities to expand to, profitability is being weakened from higher occupancy costs, the expense of opening a second distribution center and higher advertising costs.Twitter: @MariaHalkias  Continue reading...

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