Restoration Hardware Holdings Inc. (NYSE: RH
) reported late on Thursday that its fiscal first-quarter loss narrowed due to decline in expenses and higher revenue. Adjusted earnings and revenue also topped Street’s estimates.
Shares soared 10.45% in aftermarket trading as the Company provided upbeat guidance for the current quarter and upwardly revised its full-year outlook.
For the fiscal first quarter, the Corte Madera Calif. based Company reported a loss of $0.16 million down from a loss of $3.73, in the same quarter of last year.
On adjusted basis, the Company reported it earned 6 cents a share compared to a loss of 4 cents a share, in the year-earlier quarter. Analysts surveyed by Thomson Reuters were expecting earnings of 4 cents a share.
Revenue soared 38% to $301.34 million from $217.92 million, in the same quarter of last year. Analysts’ consensus estimate was for revenue of $299.13 million.
Comparable-store-sales soared 41%, having increased 26% in the year earlier quarter.
Selling, general and administrative expenses fell 33.6% from 35.5%, in the same quarter of last year.
For the fiscal second quarter, the Company anticipates adjusted earnings of 40 cents to 42 cents a share on revenue of $375 million to $380 million. Analysts’ consensus estimate was for earnings of 39 cents a share on revenue of $354.83 million.
For the full fiscal year, the Company now expects adjusted earnings to be in the range of $1.41 to $1.47 a share on revenue of $1.47 billion to $1.51 billion. Analysts’ consensus estimate was for $1.40 a share on revenue of $1.48 billion.
Earlier the Company provided earnings guidance of $1.29 to $1.37 a share on revenue of $1.42 billion to $1.45 billion.