MW With these At Home stores closing, Wayfair should pick up some new customers

By Tomi Kilgore

Wayfair should see a small but important boost to revenue from the closing of 26, or 10%, of At Home stores in 12 states, analyst says

The bankruptcy of home-goods retailer At Home earlier this week may not be a huge boon for its competitors, but it could provide a "small, ongoing tailwind" for Wayfair Inc.

While At Home will remain in business, the company said it is closing 26 stores in 12 states, or about 10% of its stores in operation. (See the addresses of the stores being closed below.)

Mizuho analyst David Bellinger noted that At Home, which was taken private by private-equity firm Hellman & Friedman in 2021, had about $1.8 billion in annual revenue and more than 3% share of the home-furnishings market at the time of its bankruptcy.

He believes Wayfair (W) is likely to pick up most of any displaced revenue, followed by other larger retailers including Home Depot Inc. $(HD)$, Walmart Inc. $(WMT)$ and Costco Wholesale Corp. $(COST)$

Although the amount of revenue and market share that Wayfair could add might not seem like much in dollar terms, Bellinger said investors shouldn't discount any of the gain.

He said the potential boost to Wayfair's annual revenue could be anywhere from more than $20 million to closer to $70 million, which would represent roughly 2% to 6% of its projected 2025 revenue of $11.82 billion, according to FactSet data.

"While these figures appear small, every bit counts from quarter to quarter - particularly given the drawn-out recovery in the broader home-related space," Bellinger said.

Wayfair's stock climbed 2.6% to north of $49 in afternoon trading, toward a five-month closing high. It has gained 7.5% since At Home declared bankruptcy, while Home Depot shares have slipped 1.9%, Walmart's stock has edged up 0.8% and Costco shares have lost 1.1%.

Shares of Wayfair have now soared 105.3% since they closed at a five-year low of $24.14 on April 8.

26 At Home stores in 12 states are closing

Here's the list of At Home stores in operation that are closing, in alphabetical order by city and state:

-- 1982 E 20th Street, Chico, Calif.

-- 2200 Harbor Boulevard, Costa Mesa, Calif.

-- 26532 Towne Center Drive Suites A-B, Foothill Ranch, Calif.

-- 2900 N. Bellflower Boulevard, Long Beach, Calif.

-- 3795 E. Foothills Boulevard, Pasadena, Calif.

-- 8230 Delta Shores Circle S., Sacramento, Calif.

-- 750 Newhall Drive, San Jose, Calif.

-- 2505 El Camino Real, Tustin, Calif.

-- 14585 Biscayne Boulevard, North Miami, Fla.

-- 13180 S. Cicero Avenue, Crestwood, Ill.

-- 5203 W. War Memorial Drive, Peoria, Ill.

-- 300 Providence Highway, Dedham, Mass.

-- 571 Boston Turnpike, Shrewsbury, Mass.

-- 2820 Highway 63 South, Rochester, Minn.

-- 905 S. 24th Street W., Billings, Mont.

-- 461 Route 10 East, Ledgewood, N.J.

-- 1361 NJ-35, Middletown Township, N.J.

-- 301 Nassau Park Boulevard, Princeton, N.J.

-- 300 Baychester Ave., Bronx, N.Y.

-- 6135 Junction Boulevard, Rego Park, N.Y.

-- 720 Clairton Boulevard, Pittsburgh, Pa.

-- 19460 Compass Creek Parkway, Leesburg, Va.

-- 8300 Sudley Road, Manassas, Va.

-- 1001 E. Sunset Drive, Bellingham, Wash.

-- 2530 Rudkin Road, Yakima, Wash.

-- 3201 North Mayfair Road, Wauwatosa, Wis.

The following are the six locations in which At Home stores that are currently not operational will be closed:

-- Redding, Calif.

-- St. Paul, Minn.

-- Clackamas, Ore.

-- Salem, Ore.

-- Everett, Wash.

-- Lacey, Wash.

-Tomi Kilgore

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June 18, 2025 15:19 ET (19:19 GMT)

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