RH Reports Q2 2023 Net Loss of $76.5 Million Amid Decline in Revenue
The luxury home furnishings retailer faces challenges as revenues fall to $800.5 million in Q2.
By USInMinutes
Published - Sep 11, 2023, 11:22 AM ET
Last Updated - Sep 11, 2023, 11:22 AM EDT
RH,(RH) former ly known as Restoration Hardware, has reported its financial results for the second quarter of 2023. The company faced a challenging quarter, with a net loss of $76.5 million, while its revenue declined to $800.5 million. Let's dive into the details of RH's financial statements and explore the factors behind these figures.
Net Income/Loss
In the second quarter of 2023, RH reported a net loss of $76.5 million. This represents a significant downturn compared to the same period in the previous year when the company reported a net income of $122.3 million. The decrease in net income can be attributed to several factors, including increased operating expenses and other expenses related to debt extinguishment.
