Restoration Hardware's Evolution Into Upscale Club Pays Off
- Shares rally after latest forecast tops Wall Street estimates
- Retailer also is opening cafes and wine vaults in its stores
Home furnishings are displayed in a Restoration Hardware Holdings Inc. store in New York, U.S., on Monday, Sept. 7, 2015.
Photographer: Michael Nagle/Bloomberg
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RH shares climbed the most in four months after posting an upbeat forecast, a sign the retailer’s transformation into a membership club is paying off.
The upscale furniture chain, formerly known as Restoration Hardware, expects adjusted earnings of as much as $1.05 a share this quarter. Analysts had predicted 59 cents on average.