RH Shares Surge After Company Swings to Profit in Q3, Raises Guidance

📆 13/12/2024 20:56:00
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RH (formerly Restoration Hardware) shares surged 17% after reporting a Q3 profit of $33.2 million and raising its fourth quarter guidance.

The company’s confident outlook sent RH shares soaring more than 17 percent in Friday trading, outperforming the NYSE index, which traded down 0.17 percent midday.reported swung to a net profit $33.2 million, or $1.66 a share, for the three months ended Nov. 2, compared with a loss of $2.2 million, or 12 cents a share a year earlier. Revenues rose 8.1 percent to $811.7 million in the third quarter.

During the conference call RH chief executive officer Gary Friedman highlighted plans to enlarge the company’s assortment and also hinted at altering its pricing strategy.

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