Furniture retailer RH falls after downbeat Q2 rev forecast

RH

13/06/2024 22:11

** Shares of luxury furniture retailer RH  RH.N  fall ~10.4%
to $248.15 in extended trading 
    ** RH forecasts Q2 revenue growth between 3% and 4%, below
Wall Street expectations of 7.3% - LSEG data
    ** Co says, "we do expect the constantly changing outlook
regarding monetary policy will continue to weigh on the housing
market through the second half of 2024 and possibly into 2025"
    ** RH reports Q1 adj loss of 40 cents/shr vs estimates of a
loss of 12 cents/shr 
    ** As of last close, stock down ~5% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))