RH stock surges as customer demand accelerates

Published On Sep 13, 2024, 3:15 PM

RH (previously known as Restoration Hardware) experienced a significant stock surge of over 20% after reporting an increase in customer demand. In their latest shareholder letter, the company noted a 7% rise in demand for their furnishings compared to the same period last year, with demand accelerating to 12% growth in August. Despite challenges in the housing market, CEO Gary Friedman expressed optimism for continued demand trends into 2025. However, the company has lowered its revenue growth forecast for the year to 5%-7%, down from a previous estimate of 8%-10%.

Read full article

Stock Forecasts

RHView RH chart on TradingView

Positive

With recent improvements in customer demand and margins, combined with a stock price surge, there appears to be positive momentum for RH moving forward. The anticipation of recovering demand trends despite a challenging housing market suggests that investors may view RH as a worthwhile long-term investment.

Related News

RH stock surges as customer demand accelerates

Sep 13, 2024, 3:15 PM

The retailer said in a letter to shareholders that demand, or level of customer orders, accelerated to start the third quarter.

RH

Stock futures are little changed after S&P 500 notches fourth-straight winning session

Sep 12, 2024, 6:02 PM

The major averages posted weekly gains as traders aim to overcome a sluggish September.

WMT
ORCL
ADBE
RH
MRNA

Stocks making the biggest moves after hours: Adobe, RH, Oracle and more

Sep 12, 2024, 5:15 PM

These are the stocks posting the largest moves in extended trading.

ADBE
ORCL
RH