Restoration Hardware Holdings Inc.'s stock plunged $12.54, or 24%, in active morning trade Thursday, putting it on track to suffer the biggest one-day price and percentage declines since the home furnishings retailer went public in November 2012. The stock was trading at the lowest level seen since May 6, 2013, on volume that was already more than the full-day average, according to FactSet. The selloff comes after the company provided a fiscal fourth-quarter profit and sales outlook that was well below expectations. The second-biggest one-day decline was when it fell $9.02, or 12, on Sept. 11, 2013 after reporting results. The stock has plunged 58% over the past three months, while the S&P 500 has lost 7.4%.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below