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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 16, 2014
10:01 EDTRHOn The Fly: Analyst Initiation Summary
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07:21 EDTRHRestoration Hardware initiated with a Buy at Deutsche Bank
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October 9, 2014
09:41 EDTRHBofA/Merrill retail analysts hold an analyst/industry conference call
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06:54 EDTRHRestoration Hardware initiated with an Outperform at Raymond James
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