Arhaus to Restate 3Q 2023 Amended Report After Finding Errors

Arhaus says some cash receipts from landlord reimbursements were incorrectly classified, resulting in inaccurate cash flow figures.

• Company estimates the impact of the errors will result in an increase in net cash from operating activities and an increase in net cash used in investing activities in a range of about $1m-$5m in the nine months ended Sept. 30
• Management previously disclosed it had found material weaknesses in internal control over financial reporting; the errors in the amended 10-Q for 3Q 2023 resulted from those weaknesses
• Shares fell 2.7% in post-market trading

To view the source of this information click here ...