Wednesday, June 12, 2019
=RH (RH) reported earnings on Wed 12 June 19 (a/h)
RH earnings soared 53% to $1.85 a share as revenue climbed 7.4% to $598 million. Wall Street expected RH earnings of $1.54 with sales at $583 million.
RH also raised full-year EPS guidance to $8.76-$9.27. Analysts expected RH earnings of $8.33 a share.
RH stock surged 26% in late trading. Shares closed up 1.5% to 94.62 but have been in a sharp downtrend since March 1. RH stock hit a record high of 164.49 on June 12, 2018.
The upscale home furnishings store formerly known as Restoration Hardware has benefited from a shift to a membership model and opening huge stores.
RH said it's expanding U.S. manufacturing facilities due to China tariffs.