Restoration Hardware's Posts $2.5M Loss as Q2 Direct Sales Up 50 Percent
Restoration Hardware Inc. said yesterday that net revenue increased 20 percent while direct-to-consumer sales jumped 50 percent during the second quarter ended July 30.The Corte Madeira, CA-based merchant's net revenue totaled $144.8 million in the second quarter. Same-store sales rose 5.6 percent during the same period.
Also, the company posted a net loss of $2.5 million, or $0.07 per share, in the quarter compared with a net loss of $1.9 million, or $0.06 per share, last year.
For the six months ended July 30, Restoration Hardware's net revenue totaled $262.2 million, a 19 percent gain over last year. Comparable-store sales increased 5.3 percent during the same period while direct-to-consumer sales rose 50 percent for a total of $75.7 million.
The company's reported a net loss of $5.6 million, or $0.17 per share, for the six-month period.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters
