Wednesday, March 28, 2018

Restoration Hardware Q4 profit tops Street; develops smaller format

Chain Store Age

The luxury home furnishings retailer reported net income of $261,000, or 1 cent a share, for the quarter, compared with $9.4 million, or 23 cents a share, in the year-ago period. Sales rose 14% to $670.3 million. Analysts had expected sales of $672 million. Same-store sales increased 2%.

RH plans to open four new locations (“Galleries”) in 2018, Portland, Ore.; Nashville; Yountville, Calif.; and New York City. The latter three will feature caf├ęs, wine vaults and coffee bars.. . . more