Costa Mesa, Calif. – This fall, luxurious shoppers can be launched to “The World of RH,” an all-encompassing digital portal housing the corporate’s merchandise, locations, providers and areas.
“We’ll start to deliver the totally different elements of our built-in ecosystem to life with wealthy content material that we consider will improve our model and join with our purchasers 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 can 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-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 unique or higher expertise, it’s a distinctive and memorable expertise as we lengthen the Gallery into the client’s dwelling. With furnishings ambassadors managing each element, it creates an impression with our prospects that may final a lifetime.”
This 12 months’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 we have now a booming housing market, a file inventory market, low rates of interest, the expectation of a rebound within the economic 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 excellent halves,” Friedman mentioned.
The corporate reported file 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.