Restoration Hardware is skyrocketing after crushing earnings and issuing blockbuster guidance (RH)

Screen Shot 2018 06 12 at 11.56.32 AM

Restoration Hardware is flying high Tuesday, up 36.65% on the back of an earnings blowout that not only impressed investors, but that also laid out big plans for the future. 

The home-furnishings retailer announced earnings of $1.33 a share, handily beating the $1.02 that Wall Street was expecting. Revenue came in at $557 million, slightly below the $563 million that was anticipated.

“Our work this past year to consolidate our distribution center network from four facilities to two while streamlining operations throughout our supply chain, has resulted in a significantly more efficient cost and working capital model,” the company said on its release

Perhaps the part of the report having the biggest sway on investors was the company’s outlook for fiscal year 2019. Restoration Hardware said it sees full-year earning-per-share guidance of between $6.34 and $6.83, well ahead of the $5.92 Bloomberg consensus.  

RH shares are up 80% this year, including Tuesday’s gain. 

SEE ALSO: JPMorgan is chasing a $3 billion opportunity in places like Atlanta, Dallas, and Seattle — and it’s raised the stakes in Wall Street’s race for national dominance

Join the conversation about this story »

NOW WATCH: How a $9 billion startup deceived Silicon Valley

Source: FS – All – Economy – News
Restoration Hardware is skyrocketing after crushing earnings and issuing blockbuster guidance (RH)