Restoration Hardware Shares Slide On Disappointing Outlook
Restoration Hardware Holdings Inc. slid in Thursday's extended trade after the high-end home furnishings retailer reported quarterly earnings and released a weak outlook for the current quarter. Restoration Hardware said its second-quarter earnings rose to $29.9 million, or 71 cents a share, from $27.3 million, or 66 cents a share, a year ago. On an adjusted basis, the company earned 85 cents a share, ahead of the 83 cents a share forecast by analysts in a FactSet survey. Revenue grew to $506.9 million from $433.8 million. In the third quarter, Restoration Hardware is projecting revenue in a range of $531 million to $541 million and adjusted earnings per share of 60 cents to 66 cents, below analysts' average estimates of $559 million in revenue and adjusted EPS of 67 cents. Shares were off 2.8% in the after-hours session.
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