Restoration Hardware Looks Expensive, But Worth A Look Anyway
Josh Arnold • 14 Comments
Josh Arnold • 14 Comments
Thu, Jun. 9, 12:44 PM
Thu, Jun. 9, 9:11 AM
Thu, Jun. 9, 7:45 AM
- Telsey Advisory Group lowers Restoration Hardware (NYSE:RH) to a Market Perform rating after bailing on its Outperform stance.
- The investment firm whacks the price target on the retailer by 39% to $30.
- Growing pains for the RH Modern concept factored into Restoration Hardware's drop in guidance yesterday.
- Other rating cuts: Raymond James (Market Perform), Deutsche Bank (Hold), and Longbow Research (Neutral).
- Previously: Soft guidance hits Restoration Hardware (June 8)
- RH -19.02% premarket to $29.20.
Wed, Jun. 8, 5:40 PM
Wed, Jun. 8, 4:22 PM
- Comparable brand revenue 4% for Restoration Hardware (NYSE:RH) to help contribute to the 8% gain in total revenue.
- The company missed estimates on the bottom line in Q1 and issued a warning on the full year.
- Profit drags include costs associated with RH Modern production delays, investments in customer experience, the timing of recognizing certain membership revenue, and a "more aggressive approach" to rationalizing inventory.
- Looking ahead to Q2, Restoration Hardware expects full year revenue of $505M to $520M vs. $532M consensus and EPS of $0.28 to $0.33 vs. $0.80 consensus. The outlook for the full year is also lowered.
- RH -12.6% AH to $31.51.
Mon, Apr. 4, 5:42 PM
Tue, Mar. 29, 4:30 PM
- Restoration Hardware (NYSE:RH) slips in after-hours trading after Q4 EPS comes in short of estimates.
- Comparable brand revenue rose 9% during the quarter with shipping delays and weakness in energy markets factoring in.
- Adjusted operating margin fell 120 bps to 11.5%.
- Q1 guidance from Restoration Hardware is for revenue of $452M-$456M vs. $460M consensus and EPS of $0.04-$0.06 vs. $0.17 consensus. The company says "customer accomodations" related to the shipping delays in RH Modern will impact results in FY16.
- RH -1.51% AH to $39.60. The issues at Restoration Hardware were pre-announced late in February.
- Previously: Restoration Hardware misses by $0.41, beats on revenue (March 29)
Thu, Feb. 25, 1:47 PM
- Restoration Hardware (RH -28.2%) slumps to a multi-year low after issuing dismal guidance last night.
- Price target revisions from Wall Street are flying in fast and furious: Nomura down to $85 from $115, Cowen and Company to $47 from $64, Robert W. Baird to $52 from $92. No major investment firm had a Sell/Underweight rating on Restoration Hardware going into the print, although SA contributor Value Digger saw it coming last fall.
- Guggenheim is taking the long view in backing its Buy rating on the furniture stock. The firm notes shares now trade at just 11X-12X estimates for FY17.
- Brian Nichols has a full dissection of management's business update.
- Previously: Restoration Hardware crashes on FQ4 warning; Williams-Sonoma also down big (Feb. 24)
Thu, Feb. 25, 12:48 PM
Thu, Feb. 25, 9:12 AM| Thu, Feb. 25, 9:12 AM | 9 Comments
Wed, Feb. 24, 5:39 PM
Wed, Feb. 24, 4:42 PM
- Restoration Hardware (NYSE:RH) expects to report FQ4 revenue of $647.2M (+11% Y/Y) and EPS of $0.99, well below a consensus of $710.9M and $1.39. Comparable brand revenue is expected to be up 9% Y/Y.
- In a shareholder letter, CEO Gary Friedman blames weaker-than-expected delivered revenue (shipping delays played a role), underperformance "in markets affected by energy, oil, or currency fluctuations" - Canada, Texas, and Miami are named - and a smaller-than-expected payoff for increased promotional activity, something RH considers reflective of high-end consumer weakness. "Our sense is the increased volatility in the US stock markets, especially the extreme conditions in January, which is historically our biggest month of the quarter for furniture sales, contributed to our performance."
- In 2016, RH plans to focus on "ramping production and improving in-stocks for RH Modern and our core RH Interiors business," making "opportunistic" real estate purchases, improving the customer experience, strengthening its brand, and changing its "promotional cadence."
- Restoration is down 22% after hours to $40.31. Williams-Sonoma (NYSE:WSM) is down 8% to $52.25. Restoration's official FQ4 results are due on March 23.
Thu, Feb. 11, 11:46 AM
- There's some nervous trading on stocks associated with consumers spending money on their houses. Today's macroeconomic news and stock market decline are cutting into confidence over consumer spending patterns.
- Pier 1 Imports (PIR -7.9%), Mattress Firm (MFRM -3.1%), Tile Shop (TTS -2.9%), Lumber Liquidators (LL -5.8%), Restoration Hardware (RH -3.6%), Bed Bath & Beyond (BBBY -2.5%), La-Z-Boy (LZB -3%), Kirkland's (KIRK -2.3%), and Williams-Sonoma (WSM -2.5%) are all lower than broad market averages.
- Lowe's (LOW -1.5%) and Home Depot (HD -1.2%) are showing a milder loss.
Dec. 10, 2015, 5:36 PM
Dec. 10, 2015, 4:40 PM
- Restoration Hardware (NYSE:RH) reports comparable brand revenue increased 7% in Q3.
- Direct revenue was up 4% to $250.9M to represent 47% of total sales. Store revenue improved 16%.
- The company's adjusted operating margin rose 180 bps to 9.4%.
- Weighted-average leased selling square footage was up 10%. The company's store count remained flat 68.
- Guiance: RH sees Q4 revenue of $708M-$718M and EPS of $1.37-$1.42 vs. $1.40 consensus. FY15 EPS seen at $3.11-$3.16 vs. $3.12 consensus.
- Previously: Restoration Hardware beats by $0.02, misses on revenue (Dec. 10)
- RH +6.86% AH to $93.62.
Dec. 10, 2015, 4:10 PM
- Restoration Hardware (NYSE:RH): FQ3 EPS of $0.65 beats by $0.02.
- Revenue of $532.4M (+9.8% Y/Y) misses by $7.49M.
- Shares +7%.
Restoration Hardware Holdings, Inc. is a holding company which operates the business through its subsidiary Restoration Hardware, Inc. It offers furniture, lighting, textiles, bathware, decor, outdoor and garden, as well as baby and child products. The company operates an integrated business... More
Sector: Consumer Goods
Industry: Home Furnishings & Fixtures
Country: United States
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