Daily News
From Home Furnishing Business
Restoration Hardware 3Q Sales up 10%
December 14,
2015 by in Financial Reports, Industry 
Lifestyle retailer Restoration Hardware (NYSE: RH) reported net income of $20.7 million for the third quarter ended Oct. 31 compared to net income of $19.4 million in the same quarter last year.
Net sales for the quarter were $532.4 million, a 10 percent increase form net sales of $484.7 million in the same quarter last year.
“Since our IPO in 2012, we have outperformed our peers by a wide margin, while remaining focused on our two value-driving strategies – the expansion of our brand and the transformation of our retail stores,” said Gary Friedman, chairman and CEO. “As it relates to the expansion of our brand, we are innovating and executing at an unprecedented pace and are extremely encouraged by the early results we are seeing out of our most recent launches – RH Modern and RH Teen. Our early data suggests that RH Modern is trending to add significant incremental revenues and opens up the RH brand to an entirely new market.”
The complete earnings release is available online.