Restoration Hardware Shares Surge 13% Despite Tough Housing Market
Restoration Hardware’s third-quarter results reveal a surprising 13% increase in share price, despite the worst housing market in 30 years. The company projects a 20-22% demand growth for Q4, reflecting strong performance amidst economic challenges. Insights from the earnings call are anticipated to shed light on the firm’s strategy and market outlook.
RH (Restoration Hardware) Earnings Report Anticipation
RH (Restoration Hardware) is set to release its earnings report after Thursday’s market close. Investors are anticipating potential significant movements in the stock price following the earnings announcement. Analysts are forecasting a loss of ($0.08) per share on revenue of $724.67 million for RH. The company has experienced fluctuations in its earnings trajectory over recent years, with projections showing a decline in 2024 before a gradual recovery in 2025 and 2026. From a technical perspective, RH’s stock is facing downward pressure, trading 32% below its 52-week high.
RH Reports Fourth-Quarter Results Below Wall Street Estimates
RH, the home furnishing company, reported fourth-quarter results that fell short of Wall Street estimates due to adverse weather and shipping delays. Despite this, the company highlighted ‘exceptional’ demand for its new catalogue of products. The stock (NYSE:RH) was up 5% in afterhours trading following the announcement. Looking ahead, RH forecasts demand and revenue growth for fiscal 2024, expressing optimism about the initial demand for its new luxury outdoor furniture, RH Outdoor Sourcebook.