Costa Mesa, Calif. – This fall, luxurious shoppers shall be launched to “The World of RH,” an all-encompassing digital portal housing the corporate’s merchandise, locations, companies and areas.
“We’ll start to convey the totally different elements of our built-in ecosystem to life with wealthy content material that we consider will improve our model and join with our purchasers on a a lot deeper stage,” chairman and CEO Gary Friedman mentioned in a letter to shareholders.
As well as, the corporate will introduce RH Modern this 12 months, which shall be adopted within the subsequent years by the launches of RH Colour, RH Couture and RH Bespoke.
The corporate has additionally been testing an idea known as RH In-Your-Dwelling within the Los Angeles and San Francisco markets and is inspired by the early outcomes.
Fernando Garcia, president of RH furnishings operations and residential supply describes it as “not a distinct or higher expertise, it’s a distinctive and memorable expertise as we prolong the Gallery into the client’s residence. With furnishings ambassadors managing each element, it creates an impression with our prospects that may final a lifetime.”
This 12 months’s plans additionally embody the opening of 4 new Design Galleries, all with built-in eating places and wine bars: RH San Francisco, The Gallery on the Historic Bethlehem Metal Constructing; RH Dallas, The Gallery on Knox; RH Oak Brook The Gallery on the Middle; and RH Jacksonville, The Gallery at St. Johns City Middle.
“Whereas 2021 will certainly be a story of two halves, the truth that we’ve got a booming housing market, a file inventory market, low rates of interest, the expectation of a rebound within the economic system and jobs market, mixed with the current additional acceleration in our demand traits, has us feeling extra slightly than much less optimistic that it’d simply change into two excellent halves,” Friedman mentioned.
The corporate reported file fourth quarter and full-year outcomes.
Revenues for the quarter ended Jan. 30, rose 22% to $812.44 million. Internet earnings climbed 91% to $130.19 million, or $4.31 per diluted share.
For the total fiscal 12 months, revenues had been up 8% to $2.85 billion. Internet earnings elevated 25% to $271.81, or $9.96 per diluted share.
