ARHS - Arhaus slides 11% after soft guidance rattles investors
2023-03-09 07:00:10 ET
Arhaus ( NASDAQ: ARHS ) fell sharply in early trading on Thursday after setting full-year guidance below expectations.
The retailer sees 2023 revenue of $1.23B to $1.30B vs. $1.37B, comparable sales growth of -4% to +1%, and full-year adjusted EBITDA of $180M to $195M vs. $205M consensus.
Arhaus ( ARHS ) is still in a growth mode with twelve new showroom openings and five renovation, relocation and expansion projects planned to be added during the year, with the bulk in the second half. However, investments made by Arhaus ( ARHS ) back into the business, along with the uncertain macroeconomic backdrop and the pull-forward of backlog delivery into late 2022, are expected to temporarily weigh on net revenue and profitability this year.
Shares of Arhaus ( ARHS ) fell 11.41% premarket on Thursday to $11.34 vs. the 52-week trading range of $4.23 to $15.27. The stock still trades above the 100-day and 200-day moving averages.
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Arhaus slides 11% after soft guidance rattles investors