RH (NYSE:RH), formerly known as Restoration Hardware, held its Q4 2023 earnings call with a tone of cautious optimism, as the company navigates what CEO Gary Friedman described as the most challenging housing market in three decades. Despite the headwinds, RH is positioning itself for significant market share gains in 2024 and beyond, with a focus on product transformation and international expansion.
During the call, Friedman highlighted the company's confidence in its strategy, as evidenced by the repurchase of 7.6 million shares in fiscal 2022 and 2023, amounting to approximately 35% of the shares outstanding. RH anticipates that this investment will create meaningful long-term...
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