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BRIEF-RH reports Q2 GAAP loss per share of $0.28
September 6, 2017 / 9:50 PM / 14 days ago

BRIEF-RH reports Q2 GAAP loss per share of $0.28

Sept 6 (Reuters) - RH:

* RH reports second quarter fiscal 2017 financial results

* RH says extra week in fiscal 2017 expected to add about $0.21-$0.23 in adjusted EPS for Q4, FY​

* Q2 revenue $615.3 million vs I/B/E/S view $606.4 million

* Q2 adjusted earnings per share $0.65

* Q2 GAAP loss per share $0.28

* Q2 earnings per share view $0.47 -- Thomson Reuters I/B/E/S

* Raises FY 2017 adjusted earnings per share view to $2.43 to $2.67

* RH sees ‍adjusted net revenues for Q3 in range of $575 million to $590 million​

* Guiding adjusted net revenues for Q3 to a range of $575 million to $590 million​

* RH sees ‍adjusted diluted earnings per share in range of $0.68 to $0.80​ for Q3

* ‍For fiscal year 2017, sees adjusted net revenues of $2.42 billion to $2.46 billion​

* RH sees ‍FY 2017 CAPEX of $120 million - $140​ million

* Plan to consolidate current furniture distribution center network from four to three locations by Q4

* Now expect to generate approximately $400 million of free cash flow for year

* Consolidation of current furniture distribution center network​ will also eliminate occupancy and overhead of about 900,000 square feet of distribution space

* Due to new membership model, simplification of distribution network saw about 150 basis points fall in return rate, about 100 basis points fall in exchange rate

* Continue to expect retail sales to double in every market we open a new design gallery

* Believe current market can support 60 to 70 design galleries in U.S. and Canada

* Evaluating timing of opening new gallery in NY’s meatpacking district due to street construction in area & significant disruption it has caused Source text for Eikon: Further company coverage:

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