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Stock Market & Financial Investment News

News Breaks
June 12, 2014
11:30 EDTWSM, RH, HVT, BBBY, PIRRestoration Hardware soars to 52-week high after raising outlook
Shares of home furnishings retailer Restoration Hardware (RH) are soaring after the company's first quarter quarter results topped analysts' consensus estimates and it raised its fiscal 2014 outlook. WHAT'S NEW: Last night, Restoration Hardware reported Q1 adjusted earnings per share of 18c and revenue of $366.3M, topping estimates of 11c and $347.73M, respectively. Q1 comparable brand revenue increased 18%. For FY14, Restoration Hardware raised its adjusted EPS view to $2.24-$2.30 from $2.14-$2.22, compared to consensus of $2.20. Its FY14 revenue outlook was raised to $1.86B-$1.89B from $1.83B-$1.86B, versus consensus of $1.85B. CEO Gary Friedman said, "While we are still in the early stages of reading the results of our 2014 Source Books, we are very pleased with the initial response to our new products, and continue to believe that the design and presentation of these new books will be transformative to our business," adding that the company believes it will be able to deliver "$4 billion to $5 billion in annual sales" once its real estate transformation is complete in North America. ANALYST REACTION: This morning, research firm RW Baird raised its price target on Restoration Hardware to $90 from $84 following the company's "beat and raise" quarter. Baird kept its Outperform rating on the stock. Another firm, Wells Fargo, thinks the stock's valuation remains attractive and raised its price target range on the shares to $85-$88 from $82-$85. It kept an Outperform rating on the shares. PRICE ACTION: In late morning trading, Restoration Hardware rose about 14% to $81.37 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $83.75. Including today's advance, the stock is up approximately 40% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Pier 1 Imports (PIR), Haverty Furniture (HVT), Williams Sonoma (WSM), and Bed Bath & Beyond (BBBY).
News For RH;PIR;HVT;WSM;BBBY From The Last 14 Days
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February 25, 2015
09:36 EDTBBBYBed Bath & Beyond Q4 comp sales trending below conensus, says Cleveland Research
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February 23, 2015
18:40 EDTHVTHaverty Furniture sees FY15 planned capital expenditures of $31M
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18:39 EDTHVTHaverty Furniture says comparable sales to date in Q1 up 6.1%
Comparable store written business for Q1 to date is up approximately 6.1% over the same period last year. Total written business quarter to date is up 7.2% for the same period last year.
18:38 EDTHVTHaverty Furniture reports Q4 EPS 46c, consensus 38c
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February 20, 2015
10:46 EDTWSMWest Coast dockworkers have not reached labor deal, CNBC reports
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10:11 EDTWSMWest Coast dockworkers reported to strike labor deal, CNBC says
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February 18, 2015
10:42 EDTWSMApparel makers beyond Perry Ellis seen hurt by port slowdown
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10:05 EDTRHOn The Fly: Analyst Initiation Summary
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10:05 EDTWSMOn The Fly: Analyst Downgrade Summary
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07:29 EDTRHRestoration Hardware initiated with an Outperform at Cowen
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06:56 EDTWSMPiper cuts Williams-Sonoma on promotions, port situation
Piper Jaffray downgraded Williams-Sonoma to Neutral from Overweight saying promotional activity has picked up in the current quarter while furniture delivery delays may arise from the West Coast ports situation. Piper keeps an $84 price target on the home products retailer. Shares closed yesterday down 41c to $81.70.
05:45 EDTWSMWilliams-Sonoma downgraded to Neutral from Overweight at Piper Jaffray
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