Restoration Hardware Holdings Inc. Misses Q2, Cuts Rev Outlook

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Restoration Hardware Holdings Inc.
RH
shares fell in after-hours action after the retailer missed second-quarter sales expectations and cut its 2015 guidance below Wall Street views. Shares of the the Corte Madera, California company were down recently by 4 percent to $78.75. Restoration said the timing of a recent catalog mailing lead to lower than expected second-quarter sales. What it calls "comparable brand revenue" increased 13 percent. For 2015, the company forecast adjusted earnings of $2.29 to $2.33 a share, on sales of $1.85 billion to $1.87 billion. Wall Street expected $2.31 a share, on sales of $1.88 billion. Previously, Restoration forecast 2015 earnings of $2.24 to $2.30 a share, on sales of $1.86 billion to $1.89 billion. For the recent period, Restoration swung to a net profit of $27.3 million or $0.66 a share, from a net loss of $17.8 million or $0.46 cents a share a year earlier. Adjusted income was $0.67 cents a share. Sales grew 14 percent to $433.8 million from $382.1 million last year. Wall Street expected earnings of $0.64 cents a share on sales of $454.38 million.
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Posted In: EarningsNewsGuidanceAfter-Hours Center
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