follow us

Restoration Hardware reports widened loss  

Corte Madera, Calif. – Specialty retailer Restoration Hardware reported a first-quarter net loss of $19.6 million on a 1.8% sales uptick to $144.8 million.

Last year’s first quarter net loss was $13.0 million, RH showed in its 10-K report filed with the SEC yesterday.

The filing showed that store revenue was down 30% to $58.7 million from $83.5 million in the same period one year ago, and the store division dipped from an operating profit of $5.3 million to a loss of $3.6 million in this year’s first quarter. The number of stores was essentially the same year-to-year; RH now operates 101 locations.

In the direct-to-consumer segment, revenue of $86.0 million was up 47% from year-ago volume of $58.6 million, the company said – with operating income jumping 23.5% to $20.2 million. About half of the gain, RH said, was realized by consolidating small package shipments into a single distribution center.

Featured Video

  • Online Moves From Afterthought To Main Thought For Textiles Suppliers

    Camera Icon More Videos

Other Home Furnishings Sites

Casual Living
Gifts and Decorative Accessories
Home Accents Today
Kids Today
Furniture Today