WSM - A Luxurious RH At A Discount

• RH is currently hampered by a high inflationary environment, having lost more than 50% of its high from last year.
• With the cost of everything rising, the management's proposed split will position the company to be more affordable on a per share basis.
• It generated outstanding growth both on its top line and operating margin despite the temporary headwinds.
• It benefits from an improving ecosystem, with a long-term goal of global expansion that will unlock significant value for the company.
• RH is trading at a discount to its future cash flow and is trading near a logical support.

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