Costa Mesa, Calif. – This fall, luxurious customers will likely be launched to “The World of RH,” an all-encompassing digital portal housing the corporate’s merchandise, locations, providers and areas.
“We are going to start to deliver the completely 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 stated in a letter to shareholders.
As well as, the corporate will introduce RH Modern this yr, which will likely 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-Residence 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 dwelling. With furnishings ambassadors managing each element, it creates an impression with our clients that may final a lifetime.”
This yr’s plans additionally embrace 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 have now a booming housing market, a file inventory market, low rates of interest, the expectation of a rebound within the financial system and jobs market, mixed with the latest additional acceleration in our demand developments, has us feeling extra relatively than much less optimistic that it would simply turn into two excellent halves,” Friedman stated.
The corporate reported file fourth quarter and full-year outcomes.
Revenues for the quarter ended Jan. 30, rose 22% to $812.44 million. Web earnings climbed 91% to $130.19 million, or $4.31 per diluted share.
For the complete fiscal yr, revenues have been up 8% to $2.85 billion. Web earnings elevated 25% to $271.81, or $9.96 per diluted share.