RH Q1 Revenue Rises 12% to $814 Million; Fiscal 2025 Guidance Maintained
RH reported first quarter fiscal 2025 results for the period ended May 3, 2025, with GAAP net revenues up 12% to $814 million and GAAP operating income of $56 million. The company kept its fiscal 2025 outlook unchanged but expects tariff-related shipment disruption to reduce second-quarter revenue by about 6 points, and it delayed a planned new concept launch to spring 2026.
- GAAP net revenues rose 12% to $814 million; GAAP operating margin was 6.9% and adjusted operating margin was 7.0%
- GAAP operating income was $56 million; free cash flow was positive at $34 million in the quarter
- Fiscal 2025 guidance maintained: revenue growth of 10% to 13% and free cash flow of $250 million to $350 million
- Second-quarter 2025 revenue growth outlook is 8% to 10%, with tariff disruption expected to cut about 6 points