RH - Why Are Home Furnishing Company RH Shares Slumping Today? | Benzinga
RH (NYSE: RH) shares are trading lower after it reported a second-quarter FY23 sales decline of 19.3% year-on-year to $800.48 million, beating the analyst consensus estimate of $784.90 million.
The revenue and adjusted operating margin exceed the guidance due to a $25 million revenue benefit from faster than expected deliveries and a shift of approximately $40 million of advertising costs from Q2 to Q3, reflecting the later mailing of RH Interiors Sourcebook.
Adjusted EPS of $3.93 beat the consensus estimate of $2.56.
Gross margin for the quarter contracted 530 basis points to 47.5%, and ...