Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Restoration Hardware Surges on Sales Forecast

June 14 (Bloomberg) -- Restoration Hardware Holdings Inc., the home furnishings chain that went public in November, surged after forecasting quarterly revenue and profit that topped analysts’ estimates.

The shares advanced 16 percent to $68.47 at the close in New York and have almost tripled since Restoration Hardware went public on Nov. 1.

Sales will be as much as $380 million in the second quarter, the Corte Madera, California-based home goods retailer said yesterday in a statement. Analysts projected $351 million, according to estimates compiled by Bloomberg. Adjusted earnings for the second quarter will be as much as 42 cents, topping analysts’ projections of 38 cents.

Restoration Hardware is becoming a “brand phenomenon” as it takes advantage of demand and a lack of options for high-end home furnishings, David Schick, an analyst for Stifel Financial Corp. in Baltimore, wrote today in a note to clients. Schick recommends holding the shares.

To contact the reporter on this story: Matt Townsend in New York at mtownsend9@bloomberg.net

To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.