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Restoration Hardware

Ticker: RH

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RH: Time For A Resto In Hype - 6/16/25

Circled back to Restoration Hardware after a few days of percolating 1Q25 results. Give quick hits on things that stand out but deep dives on international commentary and how sell side consensus numbers shook out. The net takeaway here is I am still negatively biased to the story. We maintain our $11.00 high end EPS scenario this year but decreasing the low end of the range to $7.00 from $8.00.

RH 1Q25 Preview: Sometimes The Discount Becomes Permanent - 6/8/25

It’s my favorite time of year as Restoration Hardware is set to report 1Q25 earnings this Thursday. Sentiment has shifted negative but never count Gary Friedman out! He certainly has reasons to stick it to Wall Street now that his corporate grifting is increasingly exposed. As always, we provide detailed thoughts.

RH’s Dreams Of SODOSOPA Delayed Again - 10/23/24

Restoration Hardware’s Aspen Guesthouse was delayed yesterday...again. Shady Historical Commission vote held on Rosh Hashanah prevented deciding vote Jewish member from attending. She complained and City Council holding public hearing in 1+ months.

RH’s International Disaster - 9/24/24

Have always been skeptical of Restoration Hardware’s aggressive European expansion. Now appears skepticism justified. Not just from management commentary tone change, but also PricewaterhouseCoopers audited data the UK government provides. Gary Friedman forecasted sales of $50-$250 million in the first year alone.