Expectations Are Rising Again at RH
There have been a lot of questions about the retail space lately, and especially among high-end retailers like luxury home furnishings retailer RH (NYSE: RH), the question of whether a recession is coming for the U.S. economy looms large. RH has been a big winner during the current economic expansion, as the company has figured out how to appeal to its most promising customer base and has focused on delivering the most favorable shopping experience to its loyal shoppers.
Coming into Tuesday's fiscal second-quarter financial report, RH investors fully expected that the retailer would be able to match the goals it had set. RH's numbers were generally even stronger than that, and the company boosted its projections for the rest of the year once again.
RH's fiscal second-quarter results continued a long trend of encouraging performance from the home furnishings specialist. Revenue jumped 10% to $706.5 million, accelerating from the previous quarter and topping the 9% growth rate that most of those following the stock had anticipated. Adjusted net income soared 31% year over year to $71.4 million, and that boosted adjusted earnings to $3.20 per share. That was far above the $2.70-per-share consensus forecast among analysts.
Source Fool.com
