Shares of Restoration Hardware (RH) surged 5.55% in after-hours trading on Friday, following the company's announcement of strategies to mitigate the impact of recently announced reciprocal tariffs.
In a clarification statement, RH revealed that it has already taken proactive measures to address potential tariff-related challenges. The company stated that it has "resourced the majority of China production to Vietnam" and has also moved some production to its North Carolina factory. These actions are seen as strategic moves to reduce the company's exposure to tariffs and maintain its competitive edge in the market.
This positive development comes after a challenging day for RH, which saw its shares decline earlier due to brokerage downgrades. The after-hours rally suggests that investors are reassured by the company's swift response to the tariff situation, potentially offsetting concerns raised by analysts. As the market digests this new information, all eyes will be on RH to see if this upward momentum continues in the next trading session.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.