RH Swings to $3.6 Million Q1 Net Loss as Revenue Falls to $727 Million
RH reported first quarter fiscal 2024 results for the period ended May 4, 2024, with net revenues of $727 million, down from $739 million a year earlier. The company posted a net loss of $3.6 million, or $0.20 per share, compared with net income of $41.9 million, or $1.76 per diluted share, a year earlier, and it reaffirmed its fiscal 2024 outlook, which calls for revenue growth of 8% to 10%.
Key points
- Net revenues were $727 million versus $739 million in the first quarter of 2023.
- Net loss was $3.6 million, or $0.20 per share, compared with net income of $41.9 million, or $1.76 per diluted share, a year earlier.
- Income from operations fell to $54.7 million from $99.2 million, and net interest expense rose to $56.8 million from $39.8 million.
- For fiscal 2024, RH expects revenue growth of 8% to 10% and adjusted operating margin of 13% to 14%; for the second quarter it expects revenue growth of 3% to 4%.
The filing
Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 13, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.