Mar. 27, 2014, 4:09 PM| Comment!
Mar. 27, 2014, 12:10 AM
Mar. 26, 2014, 5:35 PM
Feb. 25, 2014, 10:41 AM
- ICSC reports retail sales fell off last week despite warmer temperatures across the U.S.
- Though traffic was on the light side, a few categories showed improvement. Sales at wholesale clubs (COST, PSMT) and furniture stores (PIR, BBBY, LZB, RH, ETH, HVT) continued to show more resiliency in 2014 to weather than broad retail.
- ICSC forecasts February comp sales will improve 3%-3.5% Y/Y.
Feb. 21, 2014, 7:47 AM
Jan. 28, 2014, 2:42 PM| Comment!
Jan. 15, 2014, 3:18 PM
- Shares of Restoration Hardware (RH -5.1%) trade weaker in what Hedgeye's Brian McGough thinks is a reaction to its silence on how the holiday sales period went.
- The company didn't pre-release sales figures for the season and wasn't in attendance at the ICR XChange with many of its peers, but McGough believes time is still on its side.
- He notes that weather-delayed furniture sales can be recaptured and Restoration Hardware doesn't report Q4 tallies until March.
Dec. 18, 2013, 8:19 AM
- KeyBanc starts coverage off on Restoration Hardware (RH) with a Buy rating on its view the company is in the "early innings" of its growth story.
- Improving trends in consumer spending and housing sets up well for Restoration Hardware, according to analysts Bradley Thomas.
- The investment firm has a $80 price target on shares.
Dec. 13, 2013, 9:16 AM
Dec. 12, 2013, 5:34 PM
Dec. 12, 2013, 4:34 PM
- Shares of Restoration Hardware (RH) are taking a 10.4% drubbing AH after the company's Q3 report beat expectations and a raised Q4 outlook meets analyst expectations. However, co-CEO Carlos Alberini will step down at the end of Jan. to become CEO of Lucky Brand. The company will initiate a search for a replacement.
- Management raises Q4 guidance to revenue of $490M-$500M (vs. analyst consensus of $497.2M) and EPS of $0.82-$0.85 (vs. $0.85).
- Revenue grew 39% Y/Y to $395.8M, accelerating from a 22% increase in Q3 2012. Direct revenue grew 47% on top of a 24% increase in the same period last year.
- Comparable store sales rose 29% Y/Y, an identical clip to Q3 2012.
- Operating income skyrocketed 299% to $23.9M as the company leveraged SG&A, which decreased 570 bp Y/Y to 29.5% of revenue.
- Conference call at 5pm ET, PR
Dec. 12, 2013, 4:10 PM| Comment!
Dec. 12, 2013, 10:04 AM
- Retail sales showed their biggest gain since June and beat expectations after backing out auto sales.
- Automobile and housing-related categories helped drive up sales during November to make up for weakness in other areas. Furniture (LZB, ETH, HVT, PIR, BBBY) and home furnishings stores (WSM, RH, KIRK) showed an impressive 9.7% Y/Y gain. The read for Home Depot (HD -0.3%) and Lowe's (LOW -0.4%) is positive as well as their key categories looked solid.
- Grocery stores (SVU, KR, DEG, IMKTA, SFM, WFM) and clothing stores were drags during the month.
Dec. 12, 2013, 12:10 AM
Dec. 11, 2013, 5:35 PM
Nov. 23, 2013, 2:27 PM
- "The U.S. economy might be limping along, but many consumers have broken into a sprint," Jacqueline Doherty writes, in what seems like a rather paradoxical passage considering that consumer spending accounts for around two-thirds of U.S. economic output.
- Doherty cites an October retail sales print that came in ahead of consensus, NRF's expectations for a healthy Y/Y increase in holiday sales, and a hefty, market-beating return for the S&P Retail Select Industry index as evidence of "improvements in the consumer's fortunes."
- Still, Barron's thinks some stocks, like Michael Kors (KORS) and Restoration Hardware (RH), may have limited upside after big runs.
- Among retail stocks listed as "bargains": Bed Bath & Beyond (BBBY), Home Depot (HD), and Macy's (M).
- Retail ETFs - XLY, VCR, FXD, IYC, PEZ, RCD, PSCD, UCC, SCC, RTH, PMR, XRT, RETL
RH vs. ETF Alternatives
Restoration Hardware Holdings Inc, together with its subsidiaries, is a luxury home furnishings retailer that provides number of categories including furniture, lighting, textiles, bathware, decor, outdoor and garden, tableware & children's furnishings.
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