RH missed on the top and bottom line for its latest quarter.
The high-end furniture company, formally known as Restoration Hardware Holdings, posted fourth quarter adjusted earnings per share of $2.88, below analyst estimates of $3.40 a share.
Revenue of $772.5 million came in below expectations of $785.25 million.
“As noted in our previous shareholder letter, we expect business conditions to remain challenging for the next several quarters and possibly longer as a result of the accelerating weakness in the housing market, the uncertainty generated by the recent banking crisis and the cycling of record COVID-driven sales and backlog reductions,” stated the company shareholder letter.
https://finance.yahoo.com/news/stocks-moving-after-hours-electronic-arts-rh-212231242.html
Question for anyone interested in RH, do you wait until the real estate market improves, or is there a near-term price target where the stock becomes attractive?
Anything under 200 is attractive. Under 100 would be ideal, although the economy would have to get significantly worse for that to happen.
[link] [comments] https://www.reddit.com/r/stocks/comments/126af99/rh_misses_on_earnings/
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