Restoration Hardware Shares Surge on Upbeat Earnings but Inventory Issues Still Loom
Shares of Restoration Hardware soared Friday after reporting better-than-expected quarterly results on Thursday.
Shares of Restoration Hardware (RH) - Get Report soared Friday after reporting better-than-expected quarterly results on Thursday. Earnings of $0.44 a share beat estimates of $0.29. Revenue rose seven percent year-over-year to $543.4 million eclipsing Wall Street's forecasts of $511.4 million. Same store sales, an important industry metric, fell three percent year-over-year. The company is grappling with production and inventory woes. TheStreet's Scott Gamm reports from Wall Street.
