SAN FRANCISCO, March 7 /PRNewswire-FirstCall/ -- Restoration Hardware
announced today, Tuesday, March 7th, the appointment of Chris Newman as its
Senior Vice President and Chief Financial Officer. Mr. Newman, age 40, most
recently served as Vice President and CFO Store Operations, Limited Brands
where he was employed for the past seven years. In his time with Limited
Brands, Mr. Newman also served in executive financial roles at Bath and Body
Works and Victoria's Secret. Prior to working at Limited Brands, Mr. Newman
held progressively responsible positions at PepsiCo, Inc. in financial and
strategic planning for over nine years. Mr. Newman began his career at J.P.
Morgan and attended Brown University.
Commenting on Mr. Newman's appointment, Gary Friedman, President, Chairman
and CEO, said, "We are very pleased to be able to announce that Chris is
joining Restoration Hardware. His deep experience with a variety of specialty
retail brands in both retail store and direct channels is a perfect match for
us. I believe Chris will acclimate very rapidly and be a key strategic
partner on the senior management team." Mr. Friedman continued, "I also
believe Chris will bring important discipline and process to our Brand. His
appointment comes at a perfect time in Restoration Hardware's evolution."
Mr. Newman commented, "I am thrilled to be joining the team at Restoration
Hardware. I am impressed with the Brand and excited about the Company's
prospects for growth in both sales and profitability. I look forward to
working with the finance team, senior management, and other business partners
to achieve Restoration Hardware's potential."
About Restoration Hardware, Inc.:
Restoration Hardware, Inc. is a specialty retailer of high quality home
furnishings, bath fixtures and bath ware, functional and decorative hardware
and related merchandise that reflects the Company's classic and authentic
American point of view. Restoration Hardware, Inc. sells its merchandise
offering through its retail stores, catalog (800-762-1005) and on-line at
www.restorationhardware.com. As of March 7, 2005, the Company operated 103
retail stores and 5 outlet stores in 30 states, the District of Columbia and
Safe Harbor Statement under the Private Securities Litigation Reform Act
This release contains forward-looking statements that involve known and
unknown risks. Such forward-looking statements include, without limitation,
statements that implicate benefits from the Company's appointment of Mr. Hamer
to the Board of Directors, statements relating to our personnel, and other
statements containing words such as "expects" and words of similar import or
statements of management's opinion. These forward-looking statements involve
known and unknown risks, uncertainties and other factors that may cause the
actual results, including financial results, market performance or
achievements to differ materially from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Important factors that could cause such differences include, but are not
limited to, changes in investor perceptions of the Company, changes in
economic or business conditions in general, customer reactions to the
Company's current programs and strategies, changes in the competitive
environment in which the Company operates, changes in customer needs and
expectations, governmental actions and other factors detailed in the Company's
filings with the Securities and Exchange Commission, including its recent
filings on Forms 10-K, 10-Q and 8-K, including, but not limited to, those
described in the Company's Form 10-Q for the quarter ended April 30, 2005 in
Part I, Item 2 thereof ("Management's Discussion and Analysis of Financial
Condition and Results of Operations") under the captions "Revenue,"
"Expenses," "Other Matters," "Liquidity and Capital Resources" and "Factors
that May Affect our Future Operating Results," and in Part I, Item 4 thereof
("Controls and Procedures"). The Company undertakes no obligation to update
any guidance or any other forward-looking statements in order to reflect
events or circumstances that may arise after the date of this release.
SOURCE Restoration Hardware, Inc.
Gary Friedman, Chairman, President & CEO of Restoration Hardware, Inc., +1-415-924-1005, or fax, +1-415-927-7083
-0- Mar/07/2006 17:55 GMT
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