September 6, 2017 / 8:50 PM / a year ago

Furniture retailer RH raises full-year earnings forecast, shares soar

Sept 6 (Reuters) - Upscale furniture retailer RH raised its full-year net income forecast, and said it would streamline its distribution, sending its shares up 36 percent in after-market trading.

RH, which has been looking to restructure its business following a string of disappointing results, said it would reduce its distribution centers to three from four.

The company said on Wednesday it expects full-year profit of about $2.43 per share to $2.67 per share, up from $1.67 per share to $1.94 per share it forecast in June. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Sriraj Kalluvila)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below