RH Nearly Doubles After Q2 Beat And Raise

RH RH, formerly known as Restoration Hardware, is trading higher by $21.50, or 43 percent, at $70.92 in Thursday's session.

After Wednesday's close, the company reported a Q2 EPS beat of 22 cents along with a sales beat of $12.6 million. The company significantly raised its FY 2017 net income and sales outlook.

See Also: RH's Blowout Quarter Makes Believers Out Of Some, But Not All

After nearly a $20.00 higher open, RH had a brief $1.20 retreat to $68.51 before continuing its move higher. The ensuing rally took the stock all the way to $73.21, but has backed off that level. That is just off a pair of highs from July 26 ($73.68) and July 27 ($73.42).

The last time the stock closed above $70.00 was on July 27, when it ended that session at $71.50.