Costa Mesa, Calif. – This fall, luxurious shoppers will likely 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 carry the totally 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 stage,” chairman and CEO Gary Friedman mentioned in a letter to shareholders.
As well as, the corporate will introduce RH Up to date this 12 months, which will likely be adopted within the subsequent years by the launches of RH Coloration, RH Couture and RH Bespoke.
The corporate has additionally been testing an idea referred to as RH In-Your-Dwelling 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 distinct 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 clients that may final a lifetime.”
This 12 months’s plans additionally embody 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 Middle; and RH Jacksonville, The Gallery at St. Johns City Middle.
“Whereas 2021 will certainly be a story of two halves, the truth that we have now 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 reasonably than much less optimistic that it would simply become two superb 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. Internet revenue climbed 91% to $130.19 million, or $4.31 per diluted share.
For the complete fiscal 12 months, revenues have been up 8% to $2.85 billion. Internet revenue elevated 25% to $271.81, or $9.96 per diluted share.