Latest News by Industry
RH Reports Net Income of $76.5 Million for the Second Quarter of 2023
Quarterly Revenue of $800.5 Million
RH [RH], a leading home furnishings retailer, announced its financial results for the second quarter of 2023. The company reported net income of $76.5 million for the quarter, reflecting a decrease compared to the same period last year. Quarterly revenue stood at $800.5 million, demonstrating the company's ability to generate consistent sales in a challenging retail environment.
Financial Performance
Despite the decline in net income, RH maintained a solid financial performance during the quarter. The company's operating income for the quarter was $151.3 million, indicating strong operational efficiency. RH's gross profit amounted to $380.1 million, while selling, general, and administrative expenses were $228.7 million. These figures highlight the company's ability to effectively manage costs and optimize profitability.