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Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
How Dollar General built a small-box empire across rural America, scaling value and convenience into one of retail's most durable business models.
Arhaus
Arhaus (ARHS) investor relations material
Arhaus Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary26 Feb, 2026
Executive summary
Achieved record net revenue of $1.38 billion in 2025, up 8.5% year-over-year, nearly tripling since 2019, driven by showroom expansion, high-end client demand, and omni-channel engagement.
Net income reached $67 million, quadrupling since 2019, with adjusted EBITDA at $145 million, up 8.9% year-over-year and 190% since 2019.
Ended 2025 with $253 million in cash and no long-term debt, supporting disciplined growth and capital allocation.
Expanded to 107 showrooms, a 53% increase since 2019, with 13 showroom projects completed and significant runway for further expansion.
Announced a special cash dividend of $0.35 per share, the second since IPO, reflecting strong free cash flow and disciplined capital allocation.
Financial highlights
Gross profit reached $536 million, up 7% year-over-year; gross margin declined 50 bps to 38.9% due to higher showroom occupancy costs.
Q4 2025 net revenue was $365 million, up 5.1% year-over-year, setting a new quarterly record.
Comparable Written Sales grew 1.3% and Comparable Delivered Sales rose 3.6% for the year.
Free cash flow was $59 million; cash and equivalents totaled $253 million, up 28.3% year-over-year.
Adjusted EBITDA was $145 million, up 8.9% year-over-year; adjusted EBITDA margin flat at 10.5%.
Outlook and guidance
2026 net revenue expected between $1.43 billion and $1.47 billion (+3.7% to +6.6% year-over-year); net income guidance $66 million–$75 million; adjusted EBITDA $150 million–$161 million.
Comparable Delivered Sales expected to grow 0%–3% in 2026.
Q1 2026 net revenue expected between $300 million and $320 million (-3.7% to +2.8% year-over-year), with softness attributed to weather and catalog delays.
Plans for 10–14 showroom projects in 2026, including 4–6 new openings and mid-single-digit net unit growth.
Tariff impacts for 2026 estimated at $30–$40 million, with ongoing mitigation through sourcing and pricing.
What drives the Q1 2026 comparable sales outlook?
How do new showroom economics support capex increase?
What's behind the 14.1% inventory growth in 2025?
Showroom 4-wall economics at maturity
Quantify SG&A leverage from digital transformation
Specifics on new product market share gains
Partial view of Summaries dataset, powered by Quartr API
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Next Arhaus earnings date
Q1 20267 May, 2026
Arhaus
Next Arhaus earnings date
Q1 20267 May, 2026
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Frequently asked questions
Arhaus Inc is a retailer of premium home furnishings offering furniture, lighting, rugs, and home décor. The company sells products through its retail stores, e-commerce platform, and in-home design services across the United States. The company is headquartered in Boston Heights, Ohio, and its shares are listed on the NASDAQ.
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