RH Announces Preliminary Net Revenues and Updated Adjusted Diluted EPS Guidance for Fourth Quarter and Fiscal 2014
Q4 Comparable Brand Revenue Growth of 24% on top of 24% Last Year
Company Now Expects Q4 Adjusted Diluted EPS in Range of
Mr. Friedman continued, “Looking forward, we remain focused on our key
value driving strategies including the expansion of our product offer,
the transformation of our retail stores, and the continued enhancement
of our multi-channel platform and operating infrastructure. While still
in the early stages of building RH into the leading luxury home brand,
we see a clear path toward $4 billion to
For fiscal 2014, the Company is reporting preliminary net revenues of
approximately
The Company has not completed its quarter and year end closing and review process and the final results for the fourth quarter and fiscal 2014 results may differ from the statements made in this press release. Further commentary on the Company’s fourth quarter and fiscal 2014 financial results will be provided as part of its fourth quarter and fiscal 2014 earnings release, video presentation and Q&A conference call.
About RH
RH (
Non-GAAP Financial Measures
To supplement its consolidated financial disclosures and statements, which are prepared and presented in accordance with Generally Accepted Accounting Principles (GAAP), the Company uses certain non-GAAP financial measures, including adjusted earnings per share (EPS). The Company computes this measure by adjusting GAAP EPS to remove the impact of certain recurring and non-recurring charges and gains and the tax effect of these adjustments. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses this non-GAAP financial measure for financial and operational decision making and as a means to evaluate period-to-period comparisons. The Company believes that this non-GAAP financial measure provides useful information about operating results, enhances the overall understanding of past financial performance and future prospects, and allows for greater transparency with respect to key metrics used by management in its financial and operational decision making. The non-GAAP financial measure used by the Company in this press release may be different from similarly titled non-GAAP financial measures used by other companies. The Company is not able to provide a reconciliation of this non-GAAP financial measure to GAAP because it does not provide specific guidance for the various non-recurring and recurring reconciling items such as non-cash and other one-time compensation, one-time income tax expense (benefit), and legal claim related expenses, among others. Certain items that impact this measure have not yet occurred, are out of the Company’s control and/or cannot be reasonably predicted, and as a result, reconciliation of this non-GAAP guidance measure to GAAP is not available without unreasonable effort.
Forward Looking Statements
This release contains forward-looking statements within the meaning of
the federal securities laws including statements related to our updated
financial guidance for the fourth quarter and fiscal 2014, including
expected net revenues, comparable brand revenue growth and adjusted
diluted EPS; our belief our fourth quarter and fiscal 2014 preliminary
results further demonstrate the disruptive nature of the RH brand and
the power of our multi-channel business model; statements relating to
our outperformance of the home furnishings industry by a wide margin;
our belief that fiscal 2014 will mark RH’s fifth consecutive year of
revenue growth in excess of 20%; statements regarding our continued
focus in the future on our key value driving strategies including the
expansion of our product offer, the transformation of our retail stores,
and the continued enhancement of our multi-channel platform and
operating infrastructure; and our belief that we see a clear path toward
Source:
Restoration Hardware Holdings, Inc.
Cammeron McLaughlin,
415-945-4998
VP, Investor Relations
cmclaughlin@rh.com