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NEW YORK , June 24, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of RH ("RH" or the "Company") (NYSE: RH). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext.
NEW YORK, June 22, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of RH (“RH” or the “Company”) (NYSE: RH). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
CORTE MADERA, Calif.--(BUSINESS WIRE)--RH (NYSE: RH) announced today the release of the 2024 RH Modern Sourcebook. Debuting more than 50 exclusive collections from internationally renowned designers, the comprehensive Sourcebook features the most significant reimagination since the inception of RH Modern in 2015. A new expression of modern design, the collection presents pieces from industry icons, offering the largest curated and fully integrated assortments of modern furnishings, lighting and.
RH NYSE: RH, once known as Restoration Hardware, is a high-end home furnishing retailer. The firm's shares plummeted after it missed analysts' consensus estimates on first-quarter earnings last Thursday, June 13, 2024.
In RH's first quarter 2024 report to Wall Street, CEO Gary Friedman tried to put a positive spin on otherwise depressing news – the lipstick-on-a-pig metaphor comes to mind.
U.S. stocks traded mixed toward the trading, with the Dow Jones index falling around 0.2% on Friday.
RH shares plunged 18% after disappointing earnings and are down nearly 20% for the year. Q1 results show margin weakness, with RH gross margins down and SG&A spending up. Its reaffirmed outlook raises questions, with concerns about demand, revenue growth, and management credibility, given the macro environment.
RH's first-quarter fiscal 2024 results reflect the impact of higher interest rates in April.
RH's sales are down, costs are up, and operating expenses have increased, leading to lower profits. The company is still profitable, but profits aren't as good as they were before, and there's no clarity as to when things will improve.
Shares of RH (RH) sank Friday, a day after the upscale home furnishings retailer posted a bigger-than-expected loss and gave soft guidance as the tight housing market squeezed demand.