From Home Furnishing Business
Restoration Hardware Year-End Income Climbs
Home furnishings retailer Restoration Hardware (NYSE: RH) reported net income of $26.6 million for the fourth quarter ended Feb. 1, compared to a loss of $28.4 million in the same quarter last year.
Net sales for the quarter were $471.7 million, compared to net sales of $398 million in the same quarter last year.
Year-end income for the fiscal year ended Feb. 1 was $18.2 million, compared to a net loss of $12.8 million for fiscal 2013.
“Throughout fiscal 2013, we continued to take market share and outperform our expectations – delivering results that far exceeded the annual financial targets we introduced at the beginning of the year," said Gary Friedman, chairman and CEO.
The complete earnings release is available online.