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Restoration Hardware (RH) Boosts Q1 Outlook

May 10, 2013 9:39 AM EDT
Restoration Hardware Holdings (NYSE: RH) raised its first quarter guidance.

For the first quarter of fiscal 2013, the Company now expects net revenues in the range of $295 million to $300 million, representing 35% to 38% growth from the prior year. This compares to the Company’s previous guidance of net revenues in the range of $280 million to $285 million. Comparable store sales for the first quarter of fiscal 2013 are expected to be 41%, on top of the 26% comparable store sales growth reported in the first quarter of fiscal 2012. Adjusted net income for the first quarter of fiscal 2013, excluding the impact of variable non cash stock-based compensation charges of $3.3 million and $700,000 of costs related to the Company’s registration rights agreement with Home Holdings LLC, is now expected to be in the range of $0.9 million to $1.5 million as compared to the previous guidance of a loss of $1 million to breakeven computed on the same basis. Adjusted diluted EPS on the same basis is now expected to be in the range of $0.02 to $0.04 as compared to the Company’s prior guidance in the range of ($0.02) to breakeven.

The consensus is $284.6 million and ($0.03), respectively.


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