RPT-BUZZ-RH plunges to 4-year low on weak forecast, tariff concerns

Reuters
04-03
RPT-BUZZ-RH plunges to 4-year low on weak forecast, tariff concerns

Repeats to widen distribution

** Shares of luxury furniture retailer RH RH.N tumble 35.7% to $159.1

** Stock hit more than four-year low, set for worst day on record

** Co forecasts annual revenue below analysts' expectations, according to data compiled by LSEG

** "We expect a higher risk business environment this year due to the uncertainty caused by tariffs, market volatility and inflation risk" - CEO Gary Friedman

** At least eight brokerages cut price targets on the stock

** Morgan Stanley says the earnings path not playing out due to lower demand, higher costs and potential margin pain with a tariff backdrop creating lack of visibility.

** Co also misses Q4 net sales and adjusted EPS expectations

** 13 of 22 brokerages rate the stock "buy" or higher, eight "hold" and one "sell"; their median PT is $300

** Including session's move, stock has fallen 62.2% YTD

(Reporting by Ragini Mathur in Bengaluru)

((Ragini.Mathur@thomsonreuters.com;))

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