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Fly News Breaks for December 5, 2019
Dec 5, 2019 | 08:14 EDT
William Blair analyst Daniel Hofkin downgraded At Home Group to Market Perform from Outperform citing "limited visibility" following the company's guidance cut. The company reduced its Q4 and full-year guidance substantially for comp sales, margins, and earnings, Hofkin tells investors in a research note. At Home Group slashed prices 25% in its Christmas assortment and also plans price cuts in furniture, the analyst adds. He believes that while the moves are intended to drive greater competitiveness and clear merchandise, they will "clearly pressure" both sales and margins, at least in the near term.