At Home Group has filed an amended S-1 form with the Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No terms were given in the filing, but the offering is valued up to $100 million, although this number is usually just a placeholder. The company intends to list on the New York Stock Exchange under the symbol HOME.

The underwriters for the offering are Merrill Lynch, Goldman Sachs, Jefferies, Morgan Stanley, Evercore ISI, William Blair, Guggenheim Securities and Stifel.

This company is the leading home décor superstore, based on the number of its locations and large format stores, which it believes dedicate more space per store to home décor than any other player in the industry. At Home is focused on providing the broadest assortment of products for every room, in every style at everyday low prices. The company utilizes its space advantage to out-assort the competition, offering over 50,000 SKUs throughout the stores.

At Home’s differentiated merchandising strategy allows it to identify on-trend products and then value engineer those products to provide desirable aesthetics at attractive price points for customers. Over 70% of net sales are represented by products that are unbranded or private label.

The current store base includes 100 stores across 27 states and 58 markets, averaging over 120,000 square feet per store. The company utilizes a flexible and disciplined real estate strategy that allows it to successfully open and operate stores from 80,000 to 200,000 square feet across a wide range of formats and markets. All of its stores that have been open since the beginning of the year are profitable, and stores that have been open for more than a year average over $6 million in net sales and realize average store-level adjusted EBITDA margins of 28%.

In the filing the company listed some recent financial highlights:

• In fiscal year 2015, the company had net sales of $498 million and a net loss of $0.4 million.
• Total net sales growth from $364 million in fiscal year 2013 to $592 million for the last twelve months ended October 31, 2015, representing a compound annual growth rate, or CAGR, of 19%.
• Positive comparable stores sales in eight out of the last nine consecutive quarters, averaging 5.3% growth over the period.
• Forty-five new stores opened in the last five fiscal years, including 16 in the last fiscal year ended January 31, 2015.

The company plans to use the net proceeds from the offering to repay its indebtedness, as well as for general corporate purposes.

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