Restoration Hardware Crushed After Q1 Miss

Restoration Hardware

shares are trading lower by $7.50 at $28.57 in Thursday's session. The catalyst for the huge decline is a Q1 miss of a dime with a slight beat in revenues. Also, the company offered Q2 and FY 2016 guidance that was not comparable. The onslaught of selling from the after hours and premarket sessions has continued into the regular session. After sharply lower open, it did manage nearly a $1 pop to $30.18, before another way of sellers bombarded the issue. It has surpassed its former all time low ($30.32), so far, reaching $28.45 and has not been able to distance itself from that level.