Restoration Hardware, RH, has released record third quarter results, raising their Fiscal 2021 outlook.
THIRD QUARTER 2021 HIGHLIGHTS:
- Q3 GAAP NET REVENUES INCREASED 19% TO $1,006M VS. $844M LY
- Q3 ADJUSTED NET REVENUES INCREASED 19% TO $1,006M VS. $845M LY
- Q3 GAAP GROSS MARGIN INCREASED 180 BASIS POINTS TO 50.2% VS. 48.4% LY
- Q3 ADJUSTED GROSS MARGIN INCREASED 180 BASIS POINTS TO 50.2% VS. 48.4% LY
- Q3 GAAP OPERATING MARGIN INCREASED 1,390 BASIS POINTS TO 27.1% VS. 13.2% LY
- Q3 ADJUSTED OPERATING MARGIN INCREASED 100 BASIS POINTS TO 27.7% VS. 26.7% LY
- Q3 GAAP NET INCOME INCREASED 297% TO $184M VS. $46M LY
- Q3 ADJUSTED NET INCOME INCREASED 25% TO $209M VS. $166M LY
- Q3 GAAP DILUTED EPS INCREASED 259% TO $5.88 VS. $1.64 LY
- Q3 ADJUSTED DILUTED EPS INCREASED 13% TO $7.03 VS. $6.20 LY
“We are pleased to report yet another quarter of record results with net revenues increasing 19% to $1.006 billion versus $844 million a year ago, and up 49% versus 2019, representing the strongest two-year growth in our industry,” noted the press release.
The company plans to enter 2022 with optimism, embracing it as the year of “new.” With new product launches, concepts and experiences to bring people together and experience the RH brand.