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Furniture retailer RH raises full-year earnings forecast, shares soar
September 6, 2017 / 8:52 PM / in a month

Furniture retailer RH raises full-year earnings forecast, shares soar

Sept 6 (Reuters) - Upscale furniture retailer RH raised its full-year net income forecast, and said it would streamline its distribution, sending its shares up 36 percent in after-market trading.

RH, which has been looking to restructure its business following a string of disappointing results, said it would reduce its distribution centers to three from four.

The company said on Wednesday it expects full-year profit of about $2.43 per share to $2.67 per share, up from $1.67 per share to $1.94 per share it forecast in June. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Sriraj Kalluvila)

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