Daily News
From Home Furnishing Business
RH Wraps up 2014 with 41% Income Boost
March 27,
2015 by in Financial Reports, Furniture Retailing, Industry 
Lifestyle home furnishings retailer Restoration Hardware (NYSE: RH) posted net income of $42.5 million for the fourth quarter ended Jan. 31, compared to net income of $26.6 million in the same period last year.
Net sales for the quarter were $582.7 million, a 24 percent increase from net sales of $471.7 million in the same quarter last year.
Net income for the year hit $97.6 million, a 41 percent increase over net income of $69.1 million in fiscal 2013. Net sales for the year increased 20 percent to $1.87 billion from $1.55 billion in fiscal 2013.
“We are very pleased with the initial trends and performance of our first next generation Design Gallery, RH Atlanta - the Gallery at the Estate in Buckhead,” said Gary Friedman, chairman and CEO. “RH Atlanta is the first Gallery that showcases all of our current concepts, RH Interiors, RH Small Spaces, RH Baby & Child, and RH Outdoor. Early indications are strong and we expect Atlanta's performance to accelerate further as we continue to add future new businesses, such as RH Kitchen, and two new yet to be disclosed concepts that we will announce later this year.”
Friedman said the West Coast port disruption impacted the company’s first-quarter results, but he’s optimistic that most of the missed sales and earnings will shift forward and positively impact second-quarter earnings.
The retailer’s complete earnings release is available online.