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Stock impact report

Arhaus skyrockets after posting strong sales growth in Q3 [Seeking Alpha]

Arhaus, Inc. (ARHS) 
Company Research Source: Seeking Alpha
Arhaus skyrockets after posting strong sales growth in Q3Nov. 10, 2022 7:01 AM ETArhaus, Inc. (ARHS)By:Clark SchultzSA News EditorDiego ThomaziniArhaus (NASDAQ:The retailer said the sizzling growth was driven by strong demand in both Showroom and eCommerce channels, as well as continued improvements across thesupply chain. Comparable growth wasup 54.3% during the quarter and demand comparable growth was 15.8% compared to a year ago.Income from operations almost tripled to $47M in Q3 from $16M a year ago. The benefit from higher net revenue was partially offset by variable expense related to the increased net revenue, including higher product, transportation and variable rent expense, as well as higher credit card fees related to increased interest rates and demand.Adjusted EBITDA increased 86.6% to $57M during the quarter.CEO update: "We delivered another quarter of strong growth in revenue and earnings driven by outstanding execution by our team in implementing our growth strategies Show less Read more
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