Restoration Hardware Inc. has launched a new catalog of outdoor furniture called Restoration Hardware Outdoor and will test another new concept with a catalog mailing in September, the company announced late last week.
The fall mailing will target a broader-value market, Restoration Hardware president/CEO/chairman Gary Friedman said in a statement.
The Corte Madera, CA-based, company also reported yesterday financial results for fourth quarter and for the full year ended Jan. 28.
Net revenue for the fourth quarter totaled $191 million, a 2 percent increase. Same-store sales declined 5.5 percent during the same period. Direct-to-consumer sales, however, increased 20 percent for a total of $48.2 million.
The company reported a net loss of $19.5 million or $0.52 per share compared to a net income of $10.6 million or $0.28 per fully diluted share last year.
Net revenue for the fiscal year increased 11 percent for a total of $581.7 million. Same-store sales declined 0.3 percent for the year.
Direct-to-consumer sales increased 34 percent for a total of $160 million.
For the full year, the company reported a net loss of $29.3 million or $0.83 per share compared to a net income of $1.7 million or $0.04 per fully diluted share last year.
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