RH: Search Interest Puts Growth Metrics in Doubt
Summary:
Eagle Alpha’s Search Signal for Restoration Hardware rolled over in the April quarter. Both the one month and three month signals are showing weakness. The one month index is sharply lower, which is usually a strong signal of a change in consumer demand.
Eagle Alpha Insight:
The signal for Restoration Hardware is rolling over and places growth metrics at risk in coming quarters. The signal looks particularly negative when compared to expected growth in the July quarter. This puts management guidance at risk.
RH is a holding company. Together with its subsidiaries, the company is a retailer in the home furnishings marketplace. The company provides merchandise assortments across a number of categories, including furniture, lighting, textiles, bathware, decor, outdoor and garden, and child and teen furnishings. The company positions its Galleries as showrooms for its brand, while its Source Books and websites act as virtual extensions of its stores. The company's business is integrated across its various channels of distribution, consisting of its stores, Source Books, and websites. The company operates its retail Galleries throughout the U.S. and Canada, and its Waterworks showrooms throughout the U.S. and in the U.K.
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