RH Cuts FY Outlook, Shares Plunge 17%

(RTTNews) - Shares of RH (RH) plunged 17% on Thursday's extended trading session after the luxury-furniture retailer cut its outlook for the current full year.

Fourth-quarter profit rose to $36.1 million or $1.41 per share from $261 thousand or $0.01 per share last year. Last year's bottom line included an impairment charge related to luxury kitchen and bath fixtures company Waterworks.

Adjusted earnings for the quarter rose to $3.00 per share from $1.69 per share last year. Analysts polled by Thomson Reuters estimated earnings of $2.85 per share for the quarter.

Revenues for the quarter rose to $670.89 million from $670.30 million last year. Analysts had a consensus revenue estimate of $686.6 million for the quarter.

Looking forward, the company expects revenues of $2.585 billion to $2.635 billion and adjusted earnings of $8.41 to $9.08 per share. Analysts currently estimate earnings of $10.13 per share and revenues of $2.76 billion for the year.

Previously, the company expected earnings of $9.30 to $10.70 a share and sales of $2.72 billion to $2.82 billion.

RH closed Thursday's trading at $131.93, up $2.53 or 1.96%, on the NYSE. The stock, however, slipped $22.43 or 17.00% in the after-hours trade.