RH Stock Pops After Retailer’s Product Transformation Overshadows Earnings Miss [Video]

RH (RH) shares popped more than 8% after Wednesday’s closing bell as investors focused on the home furnishing retailer’s RH Sourcebook product range transformation rather than its quarterly top and bottom-line results that came in well below Wall Street’s expectations.

The premium home décor company said in its quarterly shareholder letter that it plans to unveil its RH Modern Sourcebook collections between late April and early May, which it expects to accelerate demand trends in the second quarter and throughout the back half of 2024. In addition, RH anticipates a sales boost from its updated RH Contemporary Sourcebook collections expected to reach homes in late July through early August.

The company also said it had received an exceptional customer response to its recently launched new RH Outdoor Sourcebook collections of luxury furniture.

Turning to the quarterly results for the three-month period ending Feb. 3, the company posted adjusted earningsof 72 cents per shares, …