Core Viewpoint - Arhaus has opened a new 15,411 square-foot showroom in Carlsbad, California, marking its twelfth location in the state and part of its ongoing West Coast expansion strategy [1][2]. Group 1: Showroom Details - The new showroom is located at The Beacon La Costa and is designed to be an inspiring destination for high-quality furniture and home décor [1]. - This location is the sixth showroom opened by Arhaus in the past year, indicating a strong growth trajectory in California [1]. Group 2: Services Offered - Arhaus provides complimentary design services to assist clients with home projects of any scale, available both in-store and online [2]. - The design team consists of seasoned consultants ready to offer guidance for various home furnishing needs [2]. Group 3: Community Engagement - To celebrate the showroom opening, Arhaus has made a $10,000 contribution to American Forests, supporting conservation efforts [2]. - This initiative aligns with Arhaus' commitment to sustainability and its Green Initiative [2]. Group 4: Company Overview - Founded in 1986, Arhaus is a rapidly growing lifestyle brand and omni-channel retailer specializing in premium home furnishings [4]. - The company operates over 95 showroom and design studio locations across the United States and offers a range of sustainable, heirloom-quality products [4].

BOSTON HEIGHTS, Ohio, June 14, 2024 (GLOBE NEWSWIRE) -- Arhaus, a leader in artisan-crafted furniture and home décor, announces the opening of its new 15,411 square-foot showroom at The Beacon La Costa in Carlsbad, California. Located in the coastal city north of San Diego, Arhaus promises an inspiring destination for high-quality furniture and home décor, alongside the center's collection of thoughtfully curated shops, eateries, and more. This showroom marks the brand's twelfth location in California, and ...

NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Arhaus, Inc. (“Arhaus” or the “Company”) (NASDAQ: ARHS). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether Arhaus and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.  [Click here for information about joining the class action] On or around November ...

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Arhaus, Inc. due to allegations of materially misleading business information issued by the company [1][2]. Group 1: Company Financial Issues - On April 29, 2024, Arhaus filed a Current Report on Form 8-K with the SEC, stating that its previously issued unaudited condensed consolidated financial statements for the period ended September 30, 2023 should no longer be relied upon and need to be restated due to identified errors [2]. - The errors pertained to cash receipts from landlord reimbursements being incorrectly included in property, furniture, and equipment, which also led to inaccuracies in cash flows for operating and investing activities [2]. - The estimated impact of these 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 for the nine months ended September 30, 2023 [2]. Group 2: Market Reaction - Following the announcement of the financial restatement, Arhaus's stock price fell by $0.80 per share, or 5.9%, closing at $12.66 per share on April 30, 2024 [2]. Group 3: Legal Action and Representation - Rosen Law Firm is preparing a class action to seek recovery of investor losses, allowing shareholders who purchased Arhaus securities to potentially receive compensation without any out-of-pocket fees [1]. - The firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions, highlighting its own achievements in recovering significant amounts for investors [3].

NEW YORK, May 28, 2024 /PRNewswire/ --WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Arhaus, Inc. (NASDAQ: ARHS) resulting from allegations that Arhaus may have issued materially misleading business information to the investing public.SO WHAT: If you purchased Arhaus securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Fi ...

Core Insights - Arhaus has opened a new 17,904 square-foot showroom at The Grove in Los Angeles, marking its eleventh location in California and the fifth opened in the past year as part of its West Coast expansion [1][2] Company Expansion - The new showroom is positioned as a premier home retailer in a renowned shopping center, enhancing Arhaus' physical retail presence in Southern California [2] - The showroom is part of a broader strategy to expand Arhaus' footprint, with nearby locations including Canoga Park, Newport Beach, Torrance, and Thousand Oaks [1] Customer Engagement - The Los Angeles location offers complimentary design services to assist clients with home projects, supported by a team of seasoned interior designers and design consultants [2] - The company invites the local community to celebrate the showroom's opening with grand opening activities, including a book signing and panel discussion with interior designers [3][4] Company Overview - Founded in 1986, Arhaus is a rapidly growing lifestyle brand and omni-channel retailer of premium home furnishings, known for its sustainable sourcing and heirloom quality products [6] - The company operates over 90 showroom and design studio locations across the United States, providing innovative design and client-first service [6]

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].