Why RH Stock Popped Today
Luxury furniture retailer RH (NYSE: RH) reported blockbuster first-quarter earnings last night, and the stock is reflecting the financial update. As of 11:45 a.m. EDT, shares in the company formerly known as Restoration Hardware had surged more than 14%.
As the economy rebounds, consumers continue to spend on home furnishings at the high-end retailer. Net revenue increased 78% while diluted earnings per share of $4.89 beat analyst predictions and represented a 285% increase versus the year-ago period. RH also raised its fiscal 2021 outlook on the strong results.
Source Fool.com
