: RH stock declines after earnings beat, mixed outlook


RH shares RH, -1.98% slipped in the extended session Thursday after the retailer formerly known as Restoration Hardware beat Wall Street expectations for the quarter, but offered a mixed outlook. RH declined 3% after hours, following a 2% rise in the regular session to close at $254.63. Shares are down 4.7% year to date, versus a 8.1% gain by the S&P 500 index SPX, +0.88%. The company reported first-quarter net income of $41.9 million, or $2.12 a share, compared with $200.7 million, or $7.22 a share, in the year-ago period. Adjusted earnings were $2.21 a share, compared with $6.63 a share in the year-ago period. Revenue declined to $739.1 million from $957.3 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $2.12 a share on revenue of $732.1 million. For the year, RH said it was raising its revenue outlook to $3 billion to $3.1 billion, but said it was lowering its adjusted operating margin to a range of 14.5% to 15.5%. Analysts had forecast revenue of $3.06 billion.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleThe Moneyist: ‘Tipping culture is out of control’: I was asked to tip 15% when I made a donation to charity. Is it time to say no to these requests?
Next articleU.K. retail sales rise 0.5% in April, rebounding from 1.2% drop in March


Please enter your comment!
Please enter your name here