RH shares RH slipped in the extended session Thursday after the retailer formerly known as Restoration Hardware beat Wall Street expectations for the quarter, but offered a mixed outlook. RH declined 3% after hours, following a 2% rise in the regular session to close at $254.63. Shares are down 4.7% year to date, versus a 8.1% gain by the S&P 500 index SPX. The company reported first-quarter net income of $41.9 million, or $2.12 a share, compared with $200.7 million, or $7.22 a share, in the year-ago period. Adjusted earnings were $2.21 a share, compared with $6.63 a share in the year-ago period. Revenue declined to $739.1 million from $957.3 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $2.12 a share on revenue of $732.1 million. For the year, RH said it was raising its revenue outlook to $3 billion to $3.1 billion, but said it was lowering its adjusted operating margin to a range of 14.5% to 15.5%. Analysts had forecast revenue of $3.06 billion.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Read Full Story
- : ‘Ability is ageless’: New York City helps retirees get back to work and fill open jobs - June 3, 2023
- : Beyond OpenAI: 7 promising startups that have saved lives, sped up drug development and improved manufacturing - June 3, 2023
- Biden signs debt ceiling bill that pulls U.S. back from brink of default - June 3, 2023