RH Forecasts Growth Rebound in 2024 Despite Near-Term Headwinds

• RH reported disappointing Q4 results but gave strong 2024 guidance, indicating a return to growth • Revenue fell 4.4% but 2024 outlook calls for 8-10% revenue growth
• Margins slipped in Q4 but expected to improve to 13-14% in 2024 • RH doubling marketing spend and new product launches to drive 2024 rebound • Management optimistic about demand recovery with housing market improvement