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RH News Highlights
- For RH, its 30 day story count is now at 21.
- Over the past 26 days, the trend for RH's stories per day has been choppy and unclear. It has oscillated between 1 and 9.
- BEAT, DOCU and PAY are the most mentioned tickers in articles about RH.
Latest RH News From Around the Web
Below are the latest news stories about RH that investors may wish to consider to help them evaluate RH as an investment opportunity.
The market is overlooking important strengths of these companies that could pay off for patient investors.
On September 12, 2023, Carlos Alberini, a director at RH, sold 25,000 shares of the company's stock.
Formerly known as Restoration Hardware, high-end furniture retailer RH (NYSE: RH) has been embarking on a major brand transformation and expansion over the past few years. In 2023, sales and profits are on the decline, even as the company spends big to expand its brand. Management decided to spend most of its cash on a massive share repurchase in the second quarter.
Berkshire Hathaway Sold More Than 2 Million Shares of RH. You'll Never Believe What Company Just Bought All Those Shares and More.
In May, business conglomerate Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) revealed that it had sold its entire investment in RH stock -- nearly 2.4 million shares valued at over $600 million at the time. Forbes took this and ran the headline, "Bad Omen For Home Furnishings As Berkshire Hathaway Dumps Its RH Stock," showing how this was perceived by the market. Berkshire Hathaway is run by famous investor Warren Buffett.
Stores with lower-income customers saw better Q2 same-store sales than those with higher-income customers.
Talk to any real estate agent, and you'll likely hear the same thing. The housing market is as slow as it has been in a long time. The pandemic-driven housing boom has dried up with mortgage rates at their highest levels in 20 years and existing home sales as low as they've been since the early 2010s when that era's real estate bubble went bust.
Mobile payment company Block (SQ) has restored its systems after widespread outages reported over the past two days. Supermarket chain Kroger (KR) will be selling over 400 stores to C&S Grocers while juggling a $1.4 billion opioid settlement and plans to go ahead with an Albertsons (ACI) merger. Lastly, Restoration Hardware (RH) shares tumble after a strong second-quarter earnings beat and CEO Gary Friedman's warnings on housing market headwinds. Yahoo Finance Live shines a light on several of the top trending stocks after Friday's closing bell.
RH, which caters to high income shoppers, says the housing market poses a challenging environment for the business.
High-end furnishings retailer RH warned that elevated mortgage rates will crimp the luxury housing market and hurt its sales.
Investors are taking the warning seriously, sending shares of RH down as much as 12% in Friday trading. RH has long sought out a luxury niche in the furniture market, and the company continues to see significant demand for its offerings despite economic concerns. RH earned $3.93 per share in the second quarter on revenue of $800 million, topping analyst expectations for $2.56 per share in earnings on sales of $784.9 million.