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U.S. stocks opened with slight gains on Friday, with major indexes eking out intraday records despite the May payrolls report, which came in below expectations. The Dow Jones Industrial Average rose 1 point to 21,151. The S&P 500 rose 1 point to 2,431. The Nasdaq Composite Index gained 13 points, or 0.2%, to 6,259. Both the S&P and the Nasdaq hit records in early trading, while the Dow was points away from its own. The economy added 138,000 jobs last month, below forecasts. The report comes ahead of the Federal Reserve's June meeting, where it is expected to raise interest rates. However, the unemployment rate ticked down to its lowest level since 2001. For the week, the Dow is on track for a rise of 0.3% while both the S&P and Nasdaq are up 0.6%. Among the day's biggest movers, Lululemon Athletica Inc. jumped nearly 17% after it reported first-quarter results that beat expectations. RH Inc. tumbled 21% after cutting its outlook.
Shares of RH, formerly Restoration Hardware, down 20.5% in Friday premarket trading
RH , the retail chain formerly known as Restoration Hardware, dropped more than 20% in late trading Thursday after cutting its earnings outlook for the year. RH reported a net loss of $3.4 million, or 9 cents a share, on sales of $562.1 million for its fiscal first quarter. After adjustments for amortization and other effects, RH claimed profit of 5 cents a share. Analysts on average expected RH to report adjusted earnings of 5 cents a share on sales of $556 million. The chain, which is moving to a membership model and launching cafes in its stores, said that it will try to liquidate inventory for cash while building out its in-store offerings, which will boost revenue but hurt profit. RH increased its full-year revenue guidance to $2.4 billion to $2.45 billion, from a previous forecast of $2.3 billion to $2.4 billion, but projected adjusted earnings of $1.67 to $1.94 a share after previously forecasting $1.78 to $2.19 a share. "We are taking a cautiously optimistic approach to our outlook given the uncertain macro environment in addition to the many initiatives and investments we are undertaking," Chief Executive Gary Friedman wrote in a letter that included the earnings information Thursday afternoon. Shares fell to less than $46 after closing with a 2% gain at $57.25.
Restoration Hardware shares down 15% after Q1 results
RH cuts earnings guidance, shares plummet
Shares of department store chains sank Thursday, highlighting a broad selloff in the retail sector, after Macy's Inc.'s disappointing first-quarter results cast a pall on its peers. The SPDR S&P Retail ETF slumped 2.5%, while the S&P 500 eased 0.6%. Macy's stock plunged 12% in morning trade to the lowest level seen since October 2011, after first-quarter profit, revenue and same-store sales all missed expectations. Kohl's Corp.'s stock , which was up as much as 4.4% earlier in the session after the retailer missed on sales but beat on profit, reversed course to drop 4.1%. Shares of Dillard's Inc. tumbled 10% despite a profit beat, although revenue came up a bit shy. Elsewhere, shares of J.C. Penney Co. Inc. shed 7.3%, Sears Holdings Corp. slumped 6.6% and Nordstrom Inc. dropped 8.2%. Shares of RH , which was formerly known as Restoration Hardware, slid 9.6% even thought the furniture retailer raised its profit and sales outlook.
Home furniture and decor retailer RH , formerly Restoration Hardware, announced revised first-quarter guidance. The company now expects revenue in the range of $558 million to $562 million, up from previous guidance of $530 million to $545 million. Adjusted net income is expected to be in the range of $1.1 million to $1.9 million, compared with previous guidance of $0.8 million to $2.4 million. The company said it generated higher outlet sales due to its inventory optimization plan, but the markdowns hurt margins and earnings. Adjusted earnings per share are expected to be in the range of 3 cents to 5 cents compared with previous outlook of 2 cents to 6 cents. RH shares fell 8.3% in Thursday premarket trading, joining a broad retail sector slide after Macy's Inc. announced first-quarter earnings. RH shares are up 137% for the past three months while the S&P 500 index is up 3.6% for the period.
RH shares down 5% in Thursday premarket trading
RH now expects adj. EPSin the range of 3 cents to 5 cents vs. previous 2 cents to 6 cents
RH updates first-quarter guidance, now expects sales in the range of $558M to $562M vs. $530M to $545M
RH shares jumped 9.5% in Friday trading after a late-Thursday announcement that the company authorized a $700 million share repurchase program. RH, the furniture and home decor retailer formerly known as Restoration Hardware, completed a $300 million repurchase program in the fiscal first quarter of 2017. RH shares are up 85% for the year to date while the S&P 500 index is up 7% for the period.
U.S. stocks are mixed early Thursday, treading water after a Federal Reserve policy statement that signaled a generally positive view of the U.S. economy. Against this backdrop, each major U.S. benchmark has maintained first support, and remains within striking distance of record territory.
RH shares down 6.3% in Monday premarket trading
Crate & Barrel's CEO Doug Diemoz has left the company, a company representative confirmed to MarketWatch. Diemoz had held the position for less than two years. The spokesperson did not explain the reason for his departure but said it had nothing to do with a pending lawsuit with RH , the furniture and home-furnishings chain formerly known as Restoration Hardware. RH filed suit against Crate & Barrel in January 2017 alleging that Diemoz tried to improperly hire RH executives, and that another former executive, Kimberly Ahlheim, left RH with confidential information, according to a Wall Street Journal report. Diemoz is also a former RH executive. Crate & Barrel, headquartered in suburban Chicago, is privately owned by a German company, Otto Group. The Chicago Tribune reported that it had obtained an internal memo stating that an Otto Group executive board member, Neela Montgomery, will assume "most" of Diemoz's responsibilities, working with other members of the executive leadership team. A Crate & Barrel spokesperson did not confirm that information to MarketWatch. RH shares are up 53.2% for the year so far. The S&P 500 index is up 4% in that period.
A graphic look at selected stock activity for the week ended June 2, 2017. Included are Palo Alto Networks, Hertz Global, and lululemon.
RH’s move to lower guidance only two months after issuing it undermines its management’s credibility with investors.
Among the companies with shares expected to trade actively in Friday's session are Lululemon Athletica Inc., Broadcom Limited, Zumiez Inc. and RH.
Investors have waited a long time for a tightening labor market to push wages higher. A calendar quirk in May might leave them disappointed for another month.
In University Park, Texas, a mother enlists a designer to create a bedroom around her 6-year-old son’s interests.
From linen to velvet, new sumptuous outdoor textiles can hang out on the patio all summer, even in the rain.
A graphic look at selected stock activity for the week ended on March 31, 2017. Includes ConocoPhillips, BlackBerry, and lululemon athletica
Shares of the home-furnishings company formerly named Restoration Hardware surged after its earnings report, but evidence of a turnaround is still in short supply.
Margin debt is once again at a record high, a reflection of investor bullishness that could just as easily turn into a bearish signal.
On Manhattan’s Lower East Side, a designer invests a previously unremarkable apartment with quiet panache.
The tumult in energy prices that weighed heavily on financial markets is finally drifting into the past. One place that's most notable is earnings.
Why Pinnacle Foods Inc (PF), RH (RH) and Marathon Oil Corporation (MRO) Are 3 of Today’s Worst Stocks
What Will It Take To Restore Restoration Hardware?
RH’s move to lower guidance only two months after issuing it undermines its management’s credibility with investors.
The S&P 500, Dow Jones industrial average and Nasdaq composite rose to fresh record highs in a short week, with Broadcom (AVGO), Palo Alto Networks (PANW) and several retailers reporting strong earnings. Meanwhile, JPMorgan Chase (JPM) and Bank of America (BAC) were among several Wall Street giants to warn of weak trading revenue. And job growth was weaker than expected in May, with notable downward revisions. Stocks Power To New Highs The Nasdaq
RH (NYSE:RH) shares lost one-quarter of their value today, after the home-furnishings company lowered its earnings guidance for ...[...]
Restoration Hardware Holdings' (RH) CEO Gary Friedman on Q1 2017 Results - Earnings Call Transcript
RH (RH), formerly known as Restoration Hardware, and Lululemon Athletica (LULU) report earnings after the close. Here's what to expect. Check back later for updates as the results come in. [ibd-display-video id=507118 width=50 float=left] RH Estimates: Consensus estimates call for EPS of 4 cents in Q1, down 20%, on sales of $556 million, up 25%. Results: To be disclosed. Shares: Shares of the upscale home furnishings retailer are up 1.2% to 56.76
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RH (RH), formerly known as Restoration Hardware, provided a revised outlook for first-quarter fiscal 2017 with faster-than-anticipated revenue growth.
RH Reports First Quarter Fiscal 2017 Financial Results
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RH Announces the Appointment of Prakash Muppirala as Chief Technology Officer and President of RH Digital Innovations
RH Announces the Appointment of Sandra Stangl as President of New Business Development
Services Stocks on Investors' Radar -- Lowe's, Home Depot, RH, and Lumber Liquidators
RH Updates First Quarter Fiscal 2017 Guidance
RH Announces $700 Million Share Repurchase Authorization
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Post Earnings Coverage as Bed Bath & Beyond Exceeded Top- and Bottom-line Expectations
RH 72 HOUR DEADLINE ALERT: APPROXIMATELY 72 HOURS REMAIN; FORMER LOUISIANA ATTORNEY GENERAL AND KAHN SWICK & FOTI, LLC REMIND INVESTORS of Deadline in Class Action Lawsuit Against RH - (RH)
SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in RH of Class Action Lawsuit and Upcoming Deadline - RH
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of RH (formerly Restoration Hardware) of a Class Action Lawsuit and a Lead Plaintiff Deadline of April 3, 2017 - RH
April 3 Deadline Alert: Law Offices of Howard G. Smith Reminds Restoration Hardware Investors of Upcoming Lead Plaintiff Deadline
Deadline Alert: GPM Reminds Investors of the April 3 Deadline in the Class Action Lawsuit against Restoration Hardware
DEADLINE ALERT: Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action Against RH (RH) & Lead Plaintiff Deadline - April 3, 2017
RH is a holding company which operates the business through its subsidiary Restoration Hardware, Inc. It offers furniture, lighting, textiles, bathware, decor, outdoor and garden, as well as baby and child products. The company operates an integrated business with multiple channels of distribution including galleries, source books and websites. The company was founded by Stephen J. Gordon in 1980 and is headquartered in Corte Madera, CA. (See Full Profile)
| Name | Chg % | Market Cap |
|---|---|---|
| Bed Bath & Beyond Inc. | $5.13B | |
| Kirkland's Inc. | $144.63M | |
| Haverty Furniture Cos. Inc. | $525.19M | |
| Pier 1 Imports Inc. | $437.08M | |
| Williams-Sonoma Inc. | $4.23B |
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