BOSTON HEIGHTS, Ohio, May 24, 2024 (GLOBE NEWSWIRE) -- Arhaus, a leader in artisan-crafted furniture and home décor, announces the opening of its new 17,904 square-foot showroom at The Grove in Los Angeles, California. Arhaus' showroom at The Grove promises an inspiring destination for high-quality furniture and home décor and will serve as the renowned shopping center's premier home retailer alongside some of the best high-end boutiques, shops, restaurants, and entertainment offerings in the Los Angeles ar ...

LOS ANGELES, May 24, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Arhaus, Inc. ("Arhaus" or "the Company") (NASDAQ: ARHS) for violations of the securities laws.The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Arhaus filed an 8-K with the SEC on April 29, 2024. According to the filing, "the Compa ...

Group 1 - Pomerantz LLP is investigating claims on behalf of investors of Arhaus, Inc. regarding potential securities fraud or unlawful business practices by the company and its officers or directors [1] - Arhaus conducted its initial public offering on November 4, 2021, selling 12.9 million shares at a price of $13.00 per share [1] - On April 29, 2024, Arhaus disclosed that its previously issued unaudited financial statements for the period ended September 30, 2023 contained errors that necessitated restatement [2] Group 2 - The identified errors in Arhaus's financial statements related to incorrect inclusion of cash receipts from landlord reimbursements, affecting the balance sheet and cash flow statements [2] - The estimated impact of the errors is an increase in net cash provided by operating activities and an increase in net cash used in investing activities, ranging from approximately $1 million to $5 million [2] - Following the announcement of the financial restatement, Arhaus's stock price fell by $0.80 per share, or 5.94%, closing at $12.66 per share on April 30, 2024 [2]

Core Viewpoint - Arhaus, Inc. reported first-quarter 2024 results with both earnings and revenues exceeding Zacks Consensus Estimates, although both metrics declined compared to the previous year. The company is focusing on expanding its physical and digital presence to enhance customer experience and is optimistic about future performance due to strong consumer demand for its products [1]. Financial Performance - Earnings per share for Q1 2024 were 11 cents, surpassing the Zacks Consensus Estimate of 2 cents, but down from 25 cents in the same quarter last year [2]. - Net revenues reached $295.2 million, a decrease of 3.1% year-over-year, yet above the Zacks Consensus Estimate of $263 million [2]. - Gross profit was $115.1 million, down 10.3% from $128.2 million a year ago, with a gross margin contraction of 310 basis points to 39% [2]. Expenses and Profitability - Selling and administrative expenses increased by 16.8% year-over-year to $96.7 million, primarily due to higher selling expenses from new showrooms and corporate investments [3]. - Adjusted EBITDA fell 46.9% to $29.1 million from $54.8 million in Q1 2023, with the adjusted EBITDA margin decreasing by 810 basis points to 9.9% [3]. Cash Position and Guidance - As of March 31, 2024, Arhaus had cash and cash equivalents of $233.2 million and no long-term debt, with net cash from operating activities at $37 million compared to $11 million in the same period last year [4]. - For Q2 2024, the company expects net revenues of $310-$320 million and a net income of $14-$18 million, with adjusted EBITDA projected at $33-$38 million [5]. - For the full year 2024, net revenues are anticipated to be between $1.33-$1.37 billion, with a net income forecast of $95-$105 million and adjusted EBITDA of $185-$200 million [5]. Market Performance - Arhaus shares have increased by 28% over the past three months, contrasting with a 2.3% decline in the industry [6].

Arhaus, Inc. (ARHS) reported $295.16 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 3.1%. EPS of $0.11 for the same period compares to $0.25 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $263.23 million, representing a surprise of +12.13%. The company delivered an EPS surprise of +450.00%, with the consensus EPS estimate being $0.02.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wal ...

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, $0.001 par value per shareARHSThe Nasdaq Global Select Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the ...

Arhaus, Inc. (NASDAQ:ARHS) Q1 2024 Earnings Conference Call May 9, 2024 8:30 AM ET Company Participants Wendy Watson - SVP, Investor Relations John Reed - Chairman, President, Chief Executive Officer, Founder Dawn Sparks - Chief Logistics Officer Jennifer Porter - Chief Marketing Officer Conference Call Participants Julio Marquez - Guggenheim Partners Jeremy Hamblin - Craig Hallum Simeon Gutman - Morgan Stanley Cristina Fernandez - Telsey Advisory Group Jeffrey Walter - Jefferies Justin Kleber - Robert W. B ...

Arhaus, Inc. (ARHS) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 450%. A quarter ago, it was expected that this company would post earnings of $0.16 per share when it actually produced earnings of $0.22, delivering a surprise of 37.50%.Over the last four quarters, the company has s ...

ARHAUS vour home ARHAUS ANNOUNCES FIRST QUARTER 2024 FINANCIAL RESULTS Net Revenue of $295 million, Net Income of $15 million, and Adjusted EBITDA of $29 million Reaf irming Full Year 2024 Outlook BOSTON HEIGHTS, Ohio—May 9, 2024—Arhaus, Inc. (NASDAQ: ARHS; "Arhaus" or the "Company"), a rapidly growing lifestyle brand and omni-channel retailer of premium artisan-crafted home furnishings, reported financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights • Net revenue of $29 ...

NEW YORK, May 07, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Arhaus, Inc. ("Arhaus" or the "Company") (NASDAQ:ARHS). The investigation concerns whether Arhaus and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices. [Click here to learn more about the investigation] On April 29, 2024, Arhaus filed a Current Report on Form 8-K with the Securities and Exchange Commission ("SEC") ann ...