{"id":116176,"date":"2021-06-09T22:37:52","date_gmt":"2021-06-09T22:37:52","guid":{"rendered":"https:\/\/fin2me.com\/?p=116176"},"modified":"2021-06-09T22:37:52","modified_gmt":"2021-06-09T22:37:52","slug":"rh-beats-earnings-hikes-outlook-as-retail-rebound-boosts-high-end-home-goods-shares-jump","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/rh-beats-earnings-hikes-outlook-as-retail-rebound-boosts-high-end-home-goods-shares-jump\/","title":{"rendered":"RH beats earnings, hikes outlook as retail rebound boosts high-end home goods; shares jump"},"content":{"rendered":"<ul>\n<li>RH&#x27;s fiscal first-quarter profit and sales beat analysts&#x27; estimates, as the high-end furniture chain saw continued strong demand for its sofas, rugs, lighting and other home decor. <\/li>\n<li>RH also hiked its full-year outlook, and gave a stronger-than-expected sales forecast for the second quarter. <\/li>\n<li>CEO Gary Friedman said that a strong housing and renovation market, a record stock market, low interest rates, and the reopening of the U.S. economy all bode well for the company. <\/li>\n<\/ul>\n<p>In this article<\/p>\n<ul>\n<li><span>RH<\/span><\/li>\n<\/ul>\n<p>Shares of the high-end furniture retailer RH surged in extended trading Wednesday after the company beat analysts&#x27; profit and sales estimates for the fiscal first quarter.<\/p>\n<p>RH also hiked its full-year outlook, building on the momentum it&#x27;s seeing in the luxury home category, and gave a stronger-than-expected sales forecast for the second quarter.<\/p>\n<p>In a letter to shareholders, Chief Executive Officer Gary Friedman said the remainder of this year &quot;will surely be a tale of two halves&quot; for the retail industry. But he said that &quot;the un-masking of the general public could lead to a Roaring Twenties type of consumer exuberance.&quot;<\/p>\n<p>The company&#x27;s stock was last up more than 7%.<\/p>\n<p>Here&#x27;s how RH did in the quarter ended May 1 compared with what analysts were anticipating, using Refinitiv estimates:<\/p>\n<ul>\n<li>Earnings per share: $4.89 adjusted vs. $4.10 expected<\/li>\n<li>Revenue: $861 million vs. $758 million expected<\/li>\n<\/ul>\n<p>RH&#x27;s net income for the fiscal first quarter grew to $130.7 million, or $4.19 per share, compared with a loss of $3.2 million, or 17 cents per share, a year earlier. Excluding one-time adjustments, it earned $4.89 per share, topping expectations for $4.10.<\/p>\n<p>Revenue surged 78% to $861 million from $483 million a year earlier. That also beat expectations for $758 million.<\/p>\n<p>Friedman said that a strong housing and renovation market, a record stock market, low interest rates, and the reopening of the U.S. economy all bode well for the company in the quarters ahead.<\/p>\n<p>RH hiked its fiscal 2021 outlook for revenue growth to a range of 25% to 30%, compared with a prior range of 15% to 20%. Analysts had been looking for a 19.7% increase year over year.<\/p>\n<p>For its fiscal second quarter, RH expects revenue to grow 35% to 37%. Analysts had been looking for a 27.2% jump.<\/p>\n<p>The company is preparing to kick off its global expansion in the spring of 2022, starting with England. To drive future growth, it is also considering expanding into new services, potentially into areas such as landscape architecture. It currently offers interior design consulting.<\/p>\n<p>RH shares are up roughly 37% year to date. The company has a market cap of about $13 billion.<\/p>\n<p>Find the full earnings press release from RH here.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/06\/09\/rh-earnings-q1-2021.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RH&#x27;s fiscal first-quarter profit and sales beat analysts&#x27; estimates, as the high-end furniture chain saw continued strong demand for its sofas, rugs, lighting and other [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":116175,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RH beats earnings, hikes outlook as retail rebound boosts high-end home goods; shares jump - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/rh-beats-earnings-hikes-outlook-as-retail-rebound-boosts-high-end-home-goods-shares-jump\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RH beats earnings, hikes outlook as retail rebound boosts high-end home goods; shares jump - Fin2me\" \/>\n<meta property=\"og:description\" content=\"RH&#x27;s fiscal first-quarter profit and sales beat analysts&#x27; estimates, as the high-end furniture chain saw continued strong demand for its sofas, rugs, lighting and other [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/rh-beats-earnings-hikes-outlook-as-retail-rebound-boosts-high-end-home-goods-shares-jump\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-09T22:37:52+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/06\/RH-beats-earnings-hikes-outlook-as-retail-rebound-boosts-high-end-home-goods-shares-jump.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/rh-beats-earnings-hikes-outlook-as-retail-rebound-boosts-high-end-home-goods-shares-jump\/\",\"url\":\"https:\/\/fin2me.com\/business\/rh-beats-earnings-hikes-outlook-as-retail-rebound-boosts-high-end-home-goods-shares-jump\/\",\"name\":\"RH beats earnings, hikes outlook as retail rebound boosts high-end home goods; 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