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Arhaus, Inc. (NASDAQ: ARHS) is a prominent lifestyle brand and omni-channel retailer known for its premium home furnishings. Headquartered in Cleveland, Ohio, Arhaus was founded in 1986 by John and Jack Reed. The company has grown significantly since its inception and now operates more than 90 showrooms and design studio locations across the United States. In addition, Arhaus maintains a robust online presence through its website, arhaus.com.
Arhaus specializes in offering original handcrafted designs that reflect a blend of cultures from around the world. The company collaborates with skilled artisans to create an eclectic mix of exclusive pieces available only at Arhaus stores and online. Arhaus' commitment to sustainability is evident through its use of recycled materials and sustainably sourced timbers, ensuring that nearly 50% of its product assortment is eco-friendly.
The company provides a wide range of merchandise, including furniture, outdoor, lighting, textiles, and decor. This diverse product lineup is supported by Arhaus' proprietary model, which involves direct sourcing from leading manufacturers and artisans globally. This approach allows the company to offer heirloom-quality products that are built to last and come with unique designs not found elsewhere.
Arhaus is also known for its client-first service, offering complimentary in-home design consultations through its team of interior designers. This service, combined with the company's innovative design and responsible sourcing practices, has helped Arhaus build a loyal customer base.
Recent achievements include the opening of new showrooms such as a 16,000 square-foot destination in Orange County and a 17,904 square-foot location in a prominent California shopping center. These expansions underscore Arhaus' commitment to growth and enhancing its brand presence. Financially, Arhaus reported net revenue of $295 million and a net income of $15 million for the first quarter of 2024, reaffirming its positive outlook for the full year.
In addition to its retail and eCommerce channels, Arhaus has forged strong partnerships with artisans and manufacturers, which have been spotlighted in their promotional campaigns, such as the 'Bellissimo Segreto' honoring Italian craftsmanship. Arhaus continues to innovate with new product introductions like the Cooper Dining Table and the Saint Germain Collection, reflecting their dedication to quality and design.
For the latest updates and more information, visit the company's Investor Relations page.
Arhaus (NASDAQ: ARHS) will release its first quarter 2023 financial results on May 4, 2023, before market open. The lifestyle brand and omni-channel retailer, known for premium artisan-crafted home furnishings, will host a conference call at 8:30 a.m. Eastern Time the same day to discuss its financial and operational results. Investors can access the press release and conference call via the Company's website. The call is expected to provide insights into the Company's performance and future outlook, highlighting important metrics that could influence stock performance.
Arhaus (NASDAQ: ARHS) has unveiled its Outdoor 2023 Collection, titled 'Currents', designed to evoke coastal inspirations from locations like Costa Rica to New England. This collection features a variety of outdoor furnishings crafted from all-weather materials, including the Corfu and Roos Seating Collections. The new offerings include customizable dining options, accent pieces, and collections such as Oxford and Sonoma. With over 80 showrooms nationwide and robust online capabilities, Arhaus aims to enhance outdoor living experiences. The complete collection is available online and in-store, providing quality designs sustainably sourced from global artisans.
Arhaus, Inc. (NASDAQ: ARHS) reported significant financial growth for Q4 and the full year 2022. Fourth quarter net revenue surged 49.6% to $356 million, driven by improved supply chain and strong demand across sales channels. Full-year net revenue rose 54.2% to $1.229 billion, with net income up 270% to $137 million. Despite a promising outlook for 2023 with projected revenues of $1.240-$1.300 billion, the company anticipates comparable growth of -4% to 1% due to macroeconomic uncertainties and backlog delivery pull-forward. Adjusted EBITDA for 2022 reached $223 million, an 81.1% increase.
On January 25, 2023, Arhaus (NASDAQ: ARHS) launched its Spring 2023 Collection, titled 'A World of Discovery.' This collection features artisan-crafted home furnishings inspired by over 35 years of global travels. The new offerings include the Polanco Collection, made from salvaged wood, and the Condesa Collection, showcasing hand-carved hardwood. The collection aims to combine indoor and outdoor versatility, with significant pieces like the Cruz Outdoor Dining Table. The complete collection is available online and at over 80 showrooms nationwide, continuing Arhaus's commitment to sustainable sourcing and unique designs.
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