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June 11, 2014
16:12 EDTRHRestoration Hardware sees $4B-$5B annual sales after real estate transformation
CEO Gary Friedman said, “Looking forward, we remain focused on our key value-driving strategies including the expansion of our product offer and the transformation of our retail stores. 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. Regarding our real estate transformation, we recently opened our newest Full Line Design Gallery at The Historic Post Office in Greenwich, Connecticut and the early reads have been outstanding. We remain on track to open a new larger Full Line Design Gallery in Los Angeles on Melrose Avenue and our first next-generation Full Line Design Gallery in Atlanta later this year. Additionally, we are expanding the size of our New York Gallery, adding two additional floors to the top performing store in the Company. We now have signed leases for six next-generation Full Line Design Galleries and are in negotiations for more than 25 additional locations. Once our real estate transformation is complete in North America, we believe we will deliver $4 billion to $5 billion in annual sales, achieve mid-teens operating margins, and generate significant free cash flow.”
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August 27, 2015
10:38 EDTRHWilliams-Sonoma sinks after earnings, BofA downgrade
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