RH Q4 revenue rose 10% to $812 million; fiscal 2024 net income fell to $72 million
RH reported fourth-quarter and fiscal 2024 results, with GAAP net revenues of $812 million in the quarter, up 10%, and GAAP net income of $14 million. For the full year, net revenues rose 5.0% to $3.181 billion, but GAAP net income fell to $72 million from $128 million. RH also gave fiscal 2025 guidance calling for revenue growth of 10% to 13% and an adjusted operating margin of 14% to 15%, which shareholders will weigh against the lower full-year profit.
- Q4 fiscal 2024 GAAP net revenues were $812 million, up 10%; GAAP operating income was $70 million, up 9%.
- Q4 adjusted operating income was $92 million, up 38%, per the shareholder letter.
- Fiscal 2024 GAAP net income was $72 million, versus $128 million in fiscal 2023.
- Fiscal 2025 outlook: revenue growth of 10% to 13%; first-quarter 2025 revenue growth of 12.5% to 13.5%.