American home decor retail chain At Home Group is reportedly considering options, which includes plans to sell the business amid poor stock performance.
The retailer has lost 40% value for its stock on the New York stock exchange (NYSE), over the past 12 months. It is facing increasing competition from brick-and-mortar retailers and e-commerce companies.
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Sources familiar with the matter were reported by Reuters as saying that the retailer is currently in talks with the ‘Bank of America to engage with potential buyers.’
The company reported a 23% increase in net sales to $1.17bn and a 54% increase in net income to $49m from $31.8m, in the past 12 months to 26 January.
At Home Group did not respond to requests for comment, while Bank of America declined to comment on the deal.
At Home Group promoted Peter Corsa as the company’s president last month. He will continue in his current role as chief operating officer (COO).
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By GlobalDataCorsa joined the company in March 2013 and worked as its chief stores officer before being promoted to the role of COO in December 2016.
The company also plans to open its second distribution centre this year and a long-term goal to operate more than 600 stores nationwide.
Headquartered in Plano, Texas, the home decor chain currently offers furniture, mirrors, rugs, art, housewares, tabletop, patio and seasonal décor through 188 stores in 38 US states.
