Earnings Results: Bank-related anxiety is hitting RH’s wealthier customers — and shares fall on weak sales forecast

by | Mar 29, 2023 | Stock Market

Shares of RH fell after hours on Wednesday after the luxury furniture chain forecast full-year and first-quarter sales that came in below expectations, saying a housing-market slump and recent tremors in the nation’s banking system would weigh on its wealthier customers in the months to come. The company said it expected full-year sales in the range of $2.9 billion to $3.1 billion, compared with FactSet forecasts for $3.44 billion. For the first quarter, RH forecast sales of $720 million to $735 million. Wall Street was expecting…

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