RH Q1 Loss Wider Than Expected, Revenues Decrease Y/Y

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 ...