- Restoration Hardware reported earnings that beat on profits but missed on sales.
- The high-end furniture retailer said it will prioritize earnings over revenues.
- Shares are down more than 10%.
- Watch Restoration Hardware trade in real-time here.
Restoration Hardware shares are down more than 10% Wednesday after the high-end furniture retailer delivered earnings that beat on profits but missed on sales. The company also raised full-year guidance for earnings per share but trimmed its estimate for revenues.
The home-furnishings company reported adjusted earnings of $ 2.49 per share in the second-quarter, nearly four times that of last year and well above the $ 1.75 that was expected by Wall Street, according to Bloomberg data. Sales totaled $ 642 million — up 4% from last year’s $ 615 million — but that missed the $ 660 million that analysts were anticipating.See the rest of the story at Business Insider
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