Posted 3/28/2024, 2:07:19 PM
RH Shares Jump on Strong Sales Outlook Despite Tough Housing Market
- RH shares jumping in pre-market trading on strong sales outlook despite challenging housing market
- Posted Q4 net income of $11.4M and expects 8-10% revenue growth in 2024
- Faced "most challenging housing market in 3 decades" but outlook remains strong
- Plan to expand RH ecosystem globally, multiplying market opportunity to $10 trillion
- Loyalty program proving beneficial, helping drive growth even in weak housing market