Direct Sales Brighten Restoration Hardware's Holiday Performance
Restoration Hardware's net revenue for the nine-week holiday period totaled $142.5 million, compared with $142.8 million for the year-ago period, the Corte Madera, CA, multichannel retailer said yesterday. Comparable-store sales for the period declined 7.4 percent. But direct-to-consumer revenue increased 15 percent.Sales were hurt by a greater-than-expected total revenue and order deferral, which is made up of back orders, special orders and in-transit deferred revenue orders, the company said. The revenue and order deferral increased $12.3 million, or 79 percent, versus last year.
