June 12, 2019 / 8:39 PM / 2 months ago

Furnishing retailer RH hikes prices to offset China tariff, raises outlook

June 12 (Reuters) - Home furnishing retailer RH said on Wednesday it selectively raised prices of its products to mitigate the impact of tariff hike on the goods from China.

The company also reported better-than-expected quarterly results and raised its forecasts for the year, sending the company’s shares up 25% after the bell.

Washington dramatically escalated its trade war with Beijing last month by hiking levies on $200 billion worth of Chinese goods from 10% to 25% and U.S. President Donald Trump also threatened new tariffs on remaining $300 billion worth of U.S. imports from China. (Reporting by Soundarya J in Bengaluru; Editing by James Emmanuel)

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