NEW YORK (TheStreet) -- Shares of Restoration Hardware Holdings Inc. (RH) were rising, higher by 0.19% to $96 in after-hours trading Thursday, following the release of its better than expected first quarter earnings results.
For the first quarter, the company reported a profit of 23 cents per share on revenue of $422.44 million.
Analysts polled by Thomson Reuters were expecting a profit of 20 cents per share on revenue of $418.97 million.
"Net revenues exceeded our outlook and increased 15% on top of a 22% increase last year. Comparable brand revenues increased 15% on top of 18% last year - representing a 33% increase over the two year period," chairman and CEO Gary Friedman said in a statement.
"Additionally, we grew our adjusted operating margin by 60 basis points and adjusted net income by 38%, both ahead of our expectations, and further demonstrating the disruptive nature of the RH brand and the power of our multi-channel business model," Friedman added.
Last quarter, the company said 2015 would be a bridge year to improve existing stores and build new stores as it looks for growth in 2016, TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio noted.
Cramer is taking a long-term view on the stock.
Shares closed at $94.89 in Thursday's regular trading session.
Corte Madera, Calif.-based Restoration Hardware is a luxury home furnishings retailer that offers various categories, including furniture, lighting, textiles, bathware, decor, outdoor and garden, tableware and children's furnishings.
The company operates about 67 retail stores and 17 outlet stores in roughly 29 states, located primarily in upscale malls and street locations.