From Home Furnishing Business
RH Preliminary 4Q Sales Climb
Lifestyle furniture retailer Restoration Hardware (NYSE: RH) released preliminary net sales of $583 million for the recently ended fourth quarter.
The company said sales were up 24 percent from the same period last year.
“RH continues to outperform the home furnishings industry by a wide margin,” said Gary Friedman, chairman and CEO. “Fiscal 2014 marks RH’s fifth consecutive year of net revenue growth in excess of 20 percent—further demonstrating the disruptive nature of the RH brand and the power of our multi-channel business model.”
Friedman said the company is focused on expanding its product offering, transforming its stores and enhancing its multi-channel platform.
“While still in the early stages of building RH into the leading luxury home brand, we see a clear path toward $4 billion to $5 billion in North American sales, mid-teens operating margin, and significant free cash flow,” he said.
The company has not yet completed its quarter and year-end review. Those results will likely be released next month.