RH Outlook In Line With Investor Day Guidance; Shares Remain Overvalued
No-moat RH reported third-quarter results that were roughly in line with its November update, calling for sales of $592 million and EPS of $1.03, above the company’s initial take in September. Sales of $592 million and EPS of $1.04 were supported by store sales growth of 12% and a direct-to-consumer sales rise of 3%, with same-store sales ticking up 6% on top of a 6% decline in the year-ago period. We recently reevaluated our long-term thesis on RH after its investor day. While our outlook for h...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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