Luxury Retailer RH Stock Falls After Q1 Results: Here's Why
Portfolio Pulse from Erica Kollmann
RH (NYSE:RH) shares fell after the company reported Q1 financial results. The company posted a quarterly loss of 40 cents per share, missing the analyst consensus estimate of a 12-cent loss. Quarterly sales were $726.96 million, slightly above estimates but down 1.65% year-over-year. Despite positive demand trends, the company cited challenges due to high interest rates. RH forecasts demand and revenue growth for Q2 and the full year.
June 13, 2024 | 9:05 pm
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RH reported a quarterly loss of 40 cents per share, missing the analyst consensus estimate of a 12-cent loss. Quarterly sales were $726.96 million, slightly above estimates but down 1.65% year-over-year. Despite positive demand trends, the company cited challenges due to high interest rates. RH forecasts demand and revenue growth for Q2 and the full year.
The larger-than-expected loss and year-over-year sales decline are likely to negatively impact RH's stock price in the short term. However, the company's positive demand trends and growth forecasts may mitigate some of the negative sentiment.
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