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Stock Market & Financial Investment News

News Breaks
March 28, 2014
10:56 EDTRH, PIR, WSMRestoration Hardware rallies after profit outlook tops estimates
Shares of home furnishing retailer Restoration Hardware (RH) are soaring after the company’s first quarter profit view beat estimates. WHAT'S NEW: Last night, Restoration Hardware reported fourth quarter adjusted earnings per share of 83c and revenue of $471.7M, against consensus views of 83c and $493.09M, respectively. Q4 same store sales increased 17%. WHAT’S NOTABLE: The company forecast Q1 adjusted EPS of 9c-11c, topping estimates of 7c. Q1 revenue was seen at $345M-$350M, compared to consensus of $350.11M. For fiscal 2014, Restoration Hardware said it sees adjusted EPS of $2.14-$2.22, versus consensus of $2.17, while FY14 revenue is expected to be $1.83B-$1.86B, compared to consensus $1.89B. On December 12, 2013, the company had guided FY14 EPS to $1.71-$1.74 and FY14 revenue to $1.57B-$1.58B. On its Q4 conference call, the company forecast long-term adjusted earnings growth in the mid-to-high 20s, long-term adjusted EBITDA growth in the high 20s, and long-term revenue growth in the low 20s. The company hired a new Chief Development Officer, Doug Diemoz. ANALYST REACTION: This morning, Goldman Sachs maintained a Neutral rating on the shares, but raised its 12-month price target to $74 from $72. Goldman cited an improving sales backdrop and better incremental margins. PRICE ACTION: In early morning trading, Restoration Hardware rose $7.61, or 11.9%, to $71.42 on more than three times its average daily trading volume. Including today’s rise, the stock has gained over 100% over the past twelve months. OTHERS TO WATCH: Others in the home furnishing industry include Pier 1 Imports (PIR) and Williams-Sonoma (WSM).
News For RH;PIR;WSM From The Last 14 Days
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October 31, 2014
06:07 EDTWSMWilliams-Sonoma to pay $700,000 penalty for faulty shades
The U.S. Consumer Product Safety Commission announced that Williams-Sonoma has agreed to pay a $700,000 civil penalty. The agreement resolves CPSC staff’s charges that the firm knowingly failed to report to CPSC immediately, as required by federal law, a defect involving Pottery Barn Kids Roman shades with exposed inner cords. Williams-Sonoma sold the Roman shades nationwide, through its Pottery Barn Kids brand, between January 2003 and November 2007, for $30 to $60. CPSC staff charged that the Pottery Barn Kids Roman shades posed a strangulation hazard to young children. By the time that Williams-Sonoma filed its full report with CPSC, seven consumers had reported that children had become entangled on the inner cords of the Pottery Barn Kids Roman shades. Williams-Sonoma ultimately recalled approximately 85,000 of the Roman shades in cooperation with CPSC. Williams-Sonoma has agreed to continue to maintain the compliance program and system of internal controls referenced in an earlier civil penalty settlement with CPSC, designed to ensure compliance with the safety statutes and regulations enforced by the Commission. In agreeing to the settlement, Williams-Sonoma neither admits nor denies CPSC staff’s charges.

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