Focus on Execution, Architecture, and Cash Reigns Supreme at RH, With Brand Repositioning Ongoing
RH conquered another quarter of inventory clean up and repositioning that we believe will help improve the firm’s cash conversion cycle, with a material trim to its inventory balance sheet positions (down 30%), implying that previous SKU rationalization efforts should be largely behind us. An initial look at 2018 places RH’s guidance in line with our previous outlook, calling for 2018 revenue of $2.53 billion-$2.57 billion (versus our $2.6 billion forecast) and earnings per share of $5.45-$6.20 ...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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