RH Demand Tanks As Team Continues to Facilitate Turnaround; Uncertainty Remains High at the Firm
Despite nearly 30% average square footage growth over the last year, no-moat Restoration Hardware has failed to generate sales growth commensurate with footprint expansion. With third quarter sales rising just 3% in total, and facing top-line declines at a double-digit pace during the fourth quarter, it seems RH’s sales resurrection remains at bay. While pointing to some factors that have impacted the business in the current year, including the ongoing SKU rationalization program and the sourceb...
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