No Rest For Retailer RH

Home goods retailers have had a rough time in a post-pandemic environment. That’s because consumers’ discretionary spending has moved from goods to experiences, and housing activity has ground to a halt by high prices, high interest rates, and low existing inventory. And that holds true even in the luxury market, where RH operates. 😬

The luxury home goods company reported adjusted EPS of $3.93 on revenues of $800 million. That topped estimates of $2.60 per share on $786 million in revenues. Operating margins of 20.2% also exceeded guidance, primarily due to faster-than-expected deliveries and a shift of $40 million in advertising costs to the next quarter. 🔺

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