Company Overview - CEO Gary Friedman has built RH into a luxury home furnishings brand with a net worth of $1.2 billion [4] - Friedman's leadership style is described as cult-like, with a strong emphasis on dedication and commitment from employees [4][5] - RH's long-term vision is to "climb the luxury mountain" and establish itself as a global thought leader in design and taste [9][15] Financial Performance - RH's revenues peaked at $3.8 billion in fiscal 2021 but declined to $3 billion in fiscal 2023 [9] - Year-over-year revenues for the first quarter of 2024 were $727 million, down 2% from $739 million the previous year [10] - Net income plunged to a $3.6 million loss compared to a $41.9 million gain in the same quarter last year [11] - RH stock ended the week trading at about $230 a share, down from nearly $350 at the end of March and well below its peak of over $400 in August [11] Strategic Initiatives - RH is expanding internationally with new Design Galleries in Madrid, Brussels, and Palm Desert, CA, increasing effective new store selling months from 12 to 48 [13] - The company plans to double its Sourcebook circulation and expand its Waterworks subsidiary into the to-the-trade market [12] - RH is introducing new collections in Outdoor, Modern, Interiors, and a second Contemporary line, aiming to lift the business by focusing on the top third of its assortment [17] Challenges and Missteps - The RH Contemporary collection, launched in June 2022, has been a disappointment due to overestimating demand and overpricing [16] - Friedman admitted that markdowns are necessary in a down market, which can negatively impact the brand's luxury reputation [18] - International expansion is still in its early stages, with limited sales reported and muted results from the Aynho Park venture [19][20] Future Outlook - RH maintains full-year guidance with demand growth expected in the 12% to 14% range and revenues up 8% to 10% [14] - Adjusted operating margin is projected to range between 13% and 14%, with adjusted EBITDA margin between 18% and 19% [14] - Friedman remains confident in the company's long-term strategy, emphasizing investments in product transformation and platform expansion [12]

Good day, everyone, and welcome to today's RH First Quarter Fiscal 2024 Earnings Q&A call. At this time, all participants are in a listen-only mode. Later, you will have an opportunity to ask questions during the question-and-answer session, and you may register to ask a question at any time by pressing Star 1 on your telephone keypad. You may withdraw yourself from the queue by pressing Star 2. Please note that this call is being recorded, and I will be standing by if you need any assistance. It is now my ...

Loading... Check This Out: Top 2 Materials Stocks That May Collapse This Quarter In trading on Friday, industrials shares fell by 1.2%. Equities Trading UP Also Check This Out: How To Earn $500 A Month From KB Home Stock Ahead Of Q2 Earnings Silver traded up 1.9% to $29.605 on Friday, while copper rose 0.5% to $4.5015. Asia Pacific Markets Indian merchandise trade deficit widened to a seven-month of $23.8 billion in May, while wholesale prices increased by 2.61% year-over-year in May. Manufacturing producti ...

JHVEPhoto 1D Basic 5D 1M 6M YTD 5Y 10Y MAX Advanced 1Y 400 350 300 250 200 Maliddlers ll khated with Lad s.c. Mas Intees Aug 2023 Oct 2023 Dec 2023 Feb 2024 Apr 2024 Jun 2024 RH Q1 Results Show Margin Weakness in three decades." Reaffirmed Outlook Raises Questions The Macro Environment is Difficult but "As Bad as It Gets" Trading Economics Trading Economics St. Louis Federal Reserve The challenge is rectifying this macro outlook with RH's commentary and guidance. Frankly, my expectation of 0-5% housing sale ...

RH (RH) shares plunged 10.7% in the after-hours trading session on Jun 13 after it reported tepid earnings for first-quarter fiscal 2024 (ended May 4, 2024). While RH expects business conditions to remain challenging until interest rates ease and the housing market begins to rebound, it expects demand trends to accelerate throughout fiscal 2024. The company reported an adjusted loss of 40 cents per share, which missed the consensus mark of a loss of 8 cents by a whopping 400%. Importantly, the reported figu ...

RH's profits disappoint RH continues to open new locations, including expanding into Europe. It also plans to open a showroom for its bathroom brand, Waterworks, later this year. But this is illustrative of why things are difficult for the company right now. Its stores are usually quite large and are intended to showcase the luxury flavor of its offerings. This gives the business high fixed costs, and when sales slump, as they are now, so too does profitability. RH's Q1 ended on May 4. During the quarter, t ...

RH (NYSE:RH) Q1 2024 Earnings Conference Call June 13, 2024 5:00 PM ET Corporate Participants Allison Malkin - ICR, Investor Relations Gary Friedman - Chairman and Chief Executive Officer Jack Preston - Chief Financial Officer Conference Call Participants Steven Forbes - Guggenheim Securities Steven Zaccone - Citi Simeon Guttman - Morgan Stanley Max Rakhlenko - TD Cowen Curtis Nagle - Bank of America Michael Lasser - UBS Jonathan Matuszewski - Jefferies Seth Basham - Wedbush Securities Brian Nagel - Oppenhe ...

The reported revenue represents a surprise of +0.32% over the Zacks Consensus Estimate of $724.67 million. With the consensus EPS estimate being -$0.08, the EPS surprise was -400.00%. Number of locations - RH - Total Galleries: 71 versus the three-analyst average estimate of 70. Number of locations - RH - Modern Gallery: 1 compared to the 1 average estimate based on two analysts. Number of locations - Waterworks Showrooms: 14 versus the two-analyst average estimate of 14. Total leased selling square footage ...

RH (RH) came out with a quarterly loss of $0.40 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to earnings of $2.21 per share a year ago. These figures are adjusted for non-recurring items. RH, which belongs to the Zacks Consumer Products - Staples industry, posted revenues of $726.96 million for the quarter ended April 2024, surpassing the Zacks Consensus Estimate by 0.32%. This compares to year-ago revenues of $739.16 million. The company has topped consensus revenue estim ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 4, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-35720 (Exact name of registrant as specified in its charter) Delaware 45-3052669 (State or other jurisdiction of ...