Costa Mesa, Calif. – This fall, luxurious customers shall be launched to “The World of RH,” an all-encompassing digital portal housing the corporate’s merchandise, locations, companies and areas.
“We are going to start to convey the completely different elements of our built-in ecosystem to life with wealthy content material that we imagine will improve our model and join with our shoppers on a a lot deeper degree,” chairman and CEO Gary Friedman mentioned in a letter to shareholders.
As well as, the corporate will introduce RH Up to date this yr, which shall be adopted within the subsequent years by the launches of RH Colour, RH Couture and RH Bespoke.
The corporate has additionally been testing an idea referred to as RH In-Your-Residence within the Los Angeles and San Francisco markets and is inspired by the early outcomes.
Fernando Garcia, president of RH furnishings operations and residential supply describes it as “not a unique or higher expertise, it’s a distinctive and memorable expertise as we prolong the Gallery into the shopper’s dwelling. With furnishings ambassadors managing each element, it creates an impression with our prospects that may final a lifetime.”
This yr’s plans additionally embrace the opening of 4 new Design Galleries, all with built-in eating places and wine bars: RH San Francisco, The Gallery on the Historic Bethlehem Metal Constructing; RH Dallas, The Gallery on Knox; RH Oak Brook The Gallery on the Heart; and RH Jacksonville, The Gallery at St. Johns City Heart.
“Whereas 2021 will certainly be a story of two halves, the truth that now we have a booming housing market, a document inventory market, low rates of interest, the expectation of a rebound within the financial system and jobs market, mixed with the latest additional acceleration in our demand developments, has us feeling extra moderately than much less optimistic that it would simply turn into two excellent halves,” Friedman mentioned.
The corporate reported document fourth quarter and full-year outcomes.
Revenues for the quarter ended Jan. 30, rose 22% to $812.44 million. Web revenue climbed 91% to $130.19 million, or $4.31 per diluted share.
For the complete fiscal yr, revenues have been up 8% to $2.85 billion. Web revenue elevated 25% to $271.81, or $9.96 per diluted share.