ARHS - Arhaus pops 14% after strong guidance stands out amid retail sector struggles

Arhaus ( NASDAQ: ARHS ) soared in early trading after the furniture retailer raised its guidance ahead of a presentation on Monday at the ICR Conference.

The company expects to report full-year revenue of $1.22B to $1.23B vs. a prior guidance for $1.17B to $1.19B and the consensus mark of $1.19B. Comparable sales growth of 51.0% to 51.4% is anticipated.

CEO update: "We are encouraged by the outstanding performance and continued momentum in our business in the fourth quarter resulting in expected full year 2022 record net revenue exceeding $1 billion and expected comparable growth of approximately 51%. Demand comparable growth for the fourth quarter accelerated from the mid-single-digit range through early November to approximately 10% for the quarter overall and was approximately 13.5% for the full year."

Despite the current economic backdrop, ARHS sees multiple opportunities for growth that lie ahead as it expands the showroom footprint, accelerates brand awareness, and continue to enhance omni-channel/technology capabilities.

Shares of Arhaus ( ARHS ) rallied 14.16% premarket to $11.50 vs. the 52-week trading range of $4.23 to $11.86.

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