Arhaus, Inc., a rapidly growing lifestyle brand and omni-channel retailer of premium artisan-crafted home furnishings, reported unaudited financial results for the fourth quarter and full year ended December 31, 2023.
Full Year 2023 Highlights
- Net revenue of $1.3 billion
- Comparable growth(1) of 1.4%
- Net and comprehensive income of $125 million
- Adjusted net income of $126 million
- Adjusted EBITDA of $203 million
Full Year 2024 Outlook Highlights
- Net revenue of $1.33 billion to $1.37 billion
- Comparable growth(1) of (4.0)% to (2.0)%
- Net and comprehensive income of $95 million to $105 million
- Adjusted EBITDA of $185 million to $200 million
Photo: Arhaus.
John Reed, Co-Founder and Chief Executive Officer, commented, 'Our vision as the premium home furnishing destination in the U.S. is to stand for impeccable design, incomparable craftsmanship, inspirational presentation and responsibly sourced home furnishings that are artisan-made to last for generations. In our endeavour to provide high quality, liveable luxury furnishings, we delivered another outstanding year in 2023.'
'Our Showroom growth was tremendous in 2023, with eleven new Showroom openings and eight renovation, relocation and expansion project completions. We are excited to continue to expand our brand awareness as we introduce the Arhaus Showroom experience to many more new clients across the U.S.'
'Our growth momentum and strategic investments continue in 2024, when we expect to add approximately nine to eleven new Showrooms: four to six Traditional Showroom formats, two Design Studios, and three outlets, along with several renovation, relocation and expansion projects.'
The Company ended the year with 92 total showrooms across 29 states. In 2024, the Company plans to open nine to eleven new Showrooms, as well as renovate, relocate and expand several locations.
About Arhaus
Founded in 1986, Arhaus is a rapidly growing lifestyle brand and omni-channel retailer of premium home furnishings. Through a differentiated proprietary model that directly designs and sources products from leading manufacturers and artisans around the world, Arhaus offers an exclusive assortment of heirloom quality products that are sustainably sourced, lovingly made, and built to last. With over 90 showroom and design centre locations across the United States, a team of interior designers providing complimentary in-home design services, and robust online and eCommerce capabilities, Arhaus is known for innovative design, responsible sourcing, and client-first service.
More information:
Arhaus
www.arhaus.com