Restoration Hardware (RH) released its first-quarter earnings Thursday. Earnings per share came in at $0.23, beating estimates of $0.20, according to analysts polled by Thomson Reuters. During the same quarter last year, the company reported net income of $0.18 per share. As for revenue, sales reached $422.4 million, compared to estimates of $419 million. Last year’s quarterly sales stood at $366 million. Gary Friedman, the retailer’s Chairman and Chief Executive Officer, said: ‘RH continues to outperform the home furnishings industry by a wide margin. Net revenues exceeded our outlook and increased 15% on top of a 22% increase last year. Comparable brand revenues increased 15% on top of 18% last year – representing a 33% increase over the two year period.’ As for guidance, the furniture retailer said fiscal 2015 earnings per share will range from $3.02 to $3.15. That’s up from a previously reported span of $2.95 to $3.10. It expects sales to range from $2.146 billion to $2.176 billion. TheStreet’s Scott Gamm reports from New York.
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