At Home Group call volume above normal and directionally bullish » 13:2505/2605/26/20
Bullish option flow…
Bullish option flow detected in At Home Group with 13,824 calls trading, 6x expected, and implied vol increasing almost 14 points to 186.01%. Jul-20 5 calls and Jun-20 5 calls are the most active options, with total volume in those strikes near 11,200 contracts. The Put/Call Ratio is 0.03. Earnings are expected on June 4th.
|Over a week ago|
Largest borrow rate increases among liquid names » 08:4505/1505/15/20
AAL, IVR, SFIX, MARK, VHC, HOME, CAR, ALT
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: American Airlines (AAL) 40.32% +9.15, Invesco Mortgage (IVR) 2.01% +0.96, Stitch Fix (SFIX) 18.33% +0.80, Remark Media (MARK) 44.72% +0.68, VirnetX (VHC) 4.40% +0.56, At Home Group (HOME) 0.81% +0.31, Avis Budget (CAR) 3.90% +0.29, iShares Goldman Sachs Software Index Fund (IGV) 1.69% +0.26, ProShares VIX Short Term Futures (VIXY) 3.74% +0.24, and Altimmune (ALT) 54.71% +0.16.
At Home Group to re-open about 50% of stores to foot traffic on May 1st » 20:0004/3004/30/20
The company states:…
The company states: "At Home is gradually re-opening stores, as permitted by local and state regulations: Approximately 50% of At Home stores are expected to be fully open to foot traffic as of May . Of the stores that remain closed to foot traffic, approximately 70 stores offer curbside pickup and/or contactless next-day local delivery, as permitted by local mandates. More than 180 stores, or over 80% of the store base, now have buy-online-pickup-in-store capabilities. Continuing to closely adhere to local and state ordinances as it evaluates its re-opening plan."
|Over a month ago|
At Home Group announces temporary furloughs, salary reductions of associates » 06:5804/0904/09/20
At Home Group announced…
At Home Group announced an update on the actions the company is taking to manage its business and preserve the company's financial position in response to the continued impact of the COVID-19 pandemic. Lee Bird, Chairman and CEO stated, "In the face of ongoing uncertainty related to COVID-19, we have taken a series of escalating measures to reduce our operating costs in the near term and further enhance our financial flexibility. We have also made the heartbreaking decision to furlough a portion of our home office, store and distribution center team members. These temporary leaves of absence are effective Saturday, April 11, and all furloughed team members will be paid through that date. This decision has not been taken lightly and, while difficult, we believe it will best position At Home to weather this disruption and emerge stronger on the other side." At Home has recently taken the following actions to preserve liquidity and efficiently manage the business through the pandemic: Closed the substantial majority of its stores to customer traffic, instead offering curbside pickup and next-day local delivery as permitted by local and state regulations. Significantly reduced scheduled hours for store and distribution center associates to align with demand. Eliminated approximately 10% of home office roles, primarily related to new store development and openings. Implemented temporary furloughs of approximately 30% of home office associates. Furloughed team members will be paid through April 11th. At Home will fund both the employee and employer portions of health insurance premiums for eligible salaried individuals during the furlough period. Temporarily reduced compensation for the remaining home office associates, including the executive team, by 10% to 30% depending on salary grade. Bird has elected to forgo 100% of his salary for the duration of the furlough. Implemented a hiring freeze and deferred promotions and merit compensation adjustments for existing employees. Deferred compensation for the Board of Directors. Pursued the relevant provisions of the CARES Act to help our near-term liquidity profile. Continued to partner with key constituents, including product partners, vendors and landlords, to preserve liquidity.
At Home Group participates in a conference call with Loop Capital » 04:5503/2603/26/20
Conference Call with CEO…
Conference Call with CEO Bird and CFO Knudson will be held on March 26 hosted by Loop Capital.
Fly Intel: Pre-market Movers » 09:1303/2503/25/20
BA, CTSO, TTOO, GSBD, NKE, HOME, SNX, ABMD, CTL, KTB, WLL
Check out this morning's…
Guggenheim cuts At Home Group to Neutral on 'unprecedented demand uncertainty' » 07:2503/2503/25/20
As previously reported,…
As previously reported, Guggenheim analyst John Heinbockel downgraded At Home Group to Neutral from Buy citing the "unprecedented demand uncertainty" that has been brought on for discretionary retailers from the COVID-19 pandemic. Though the aggressive steps taken to lower costs and improve liquidity are encouraging, there is uncertainty not only on the duration and impact of store closures but also around the way that a likely recession will impact discretionary demand once stores begin to re-open, Heinbockel tells investors.
At Home Group downgraded to Neutral from Buy at Guggenheim » 06:4303/2503/25/20
Guggenheim analyst John…
Guggenheim analyst John Heinbockel downgraded At Home Group to Neutral from Buy.
Fly Intel: After-Hours Movers » 18:4403/2403/24/20
NKE, SCS, SQ, TTEC, BRKR, HOME, SNX, GO, EOG, FB
Check out this…
At Home Group CEO says saw slowdown in store traffic over past 2 weeks » 16:0803/2403/24/20
"Given the rapidly…
"Given the rapidly evolving situation with COVID-19, we have seen a notable slowdown in store traffic over the past two weeks," said CEO Lee Bird. "We are prioritizing the health and safety of our customers and team members by temporarily closing stores and rapidly accelerating our omnichannel capabilities. We have also taken swift and bold action to preserve liquidity and have proactively drawn down our revolving credit facility to give us increased financial flexibility. Due to this period of unprecedented uncertainty, we are not providing first quarter and fiscal year 2021 guidance at this time, but we remain confident in the long-term strength of our lean, flexible operating model and the significant whitespace opportunity that still lies ahead."