Home furnishings retailer RH soars after Q3 revenue rises on improving demand

RH

13/12/2024 11:15

** Shares of home furnishings retailer RH  RH.N  up about
18% at $450 in premarket trading
    ** Company reported Q3 net revenue of $811.7 mln on
Thursday, an increase from $751.2 mln a year ago but missed
analysts' estimates of $812.2 mln, according to data compiled by
LSEG
    ** Posts Q3 adj. profit of $2.48/shr, up from a loss of
$0.42/shr a year earlier; analysts' expected RH to post adj.
profit of $2.65/shr
    ** Brokerage Telsey Advisory Group raises PT on stock to
$480 from $330
    ** RH introducing some new products at more appealing price
points has allowed it to recoup aspirational consumers -
brokerage
    ** Combination of strong demand trends, product visibility,
marketing, store plans for 2025, reduced exposure to tariffs
alleviate several concerns - brokerage
    ** Expect demand outperformance to continue into 2025 given
additional new product introductions, including expanding the
newness to contract - brokerage
    ** Up to last close, stock up nearly 31% YTD
    

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))