Restoration Hardware, which came up short of Wall Street estimates in its fourth quarter, reported it would continue investing in new initiatives to build the RH brand.
Net income was $28.8 million, or $1.46 per diluted share, versus $13.9 million, or 69 cents per diluted share, in the year-prior quarter. Adjusted for one time events, net income was $30.1 million, or $1.53 per diluted share, versus $31.7 million, or $1.58 per diluted share, in the year-earlier periods, the company reported.
An analyst consensus estimate from Zacks Investment Research called for adjusted diluted earnings per share of $2.21 and revenues of $872.4 million.
Net revenue was $842.6 million versus $812.4 million in the year-before quarter. Operating income was $96.6 million versus $70.3 million in the year-previous period.
For the full fiscal year, net income was $124.8 million, or $6.31 per diluted share, versus $72.4 million, or $3.62 per diluted share, in the year prior. Adjusted net income was $124.4 million, or $6.29 per diluted share, versus $1.07.2 million, or $5.39 per diluted share, in the year earlier, according to RH.
Net revenue was $3.44 billion versus $3.18 billion in the year before. Operating income was $387.3 million versus $322.6 million, in the year previous.
In a presentation in association with the financials results release, Gary Friedman, RH chairman and CEO, said that in a time when tariffs and global discord are creating uncertainty and pressuring margins, the company will continue to build its brand, innovate and invest in operations so that, “it is in a position to thrive.”
