RH Down In Pre-market On Lower Quarterly Earnings, Revenue

(RTTNews) - Shares of RH (RH), an upscale home-furnishings company, are down more than 7% in pre-market at $340 on Friday after reporting lower profit as well as revenue in the second quarter.

The company reported net income of $76.48 million or $3.36 per share in the second quarter, down from $122.28 million or $4.54 per share a year ago. Excluding one-time items, earnings were $88.68 million or $3.93 per share.

Revenue for the quarter declined to $800.48 million from $991.62 million from last year.

RH stock had closed at $368.55, down 1.28% on Thursday. It has traded in the range of $227.00 - $406.38 in the last 1 year.