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RH

RH

$133.32

0.56 (0.42%)

09:11
07/13/18
07/13
09:11
07/13/18
09:11

RH comments on products sourced from China

RH provided clarification in response to inaccurate reports regarding the percentage of the company's product sourced from China. The company expects to source approximately 35% of its product from China in FY18, and that imports from China will be approximately 25% to 30% in FY19. In FY17, approximately 40% of RH product was sourced from China. The Office of US Trade Representative announced on July 10th a proposed 10% ad valorem duty on a subset of products imported from China, inclusive of various furniture and lighting product categories. The company has evaluated the supplemental list issued by the US Trade Representative on July 10th and believes that a significant subset of the company's furniture and lighting sourced from China would be impacted by the proposed tariff. The company believes that it can mitigate the impact of the proposed 10% tariff on its business to the point that there would be an immaterial impact on its FY18 and FY19 financial results. RH is a significant source of volume for its vendor partners and believes that its vendor partners would work collaboratively with the company in an attempt to neutralize the potential tariff as well as potentially evaluate sourcing alternatives. In addition, due to the company's differentiated product offering and scale in the luxury home furnishing market, RH is "well positioned" to make pricing adjustments if necessary. The company is providing this commentary solely to provide clarification regarding its product sourcing as well as provide its initial assessment of the proposal and recognizes that the US Trade Representative's latest Chinese tariff proposal is highly preliminary and likely subject to significant alteration over the coming months.

RH RH
$133.32

0.56 (0.42%)

06/12/18
RAJA
06/12/18
DOWNGRADE
RAJA
Market Perform
RH downgraded to Market Perform from Outperform at Raymond James
06/12/18
06/12/18
DOWNGRADE

Market Perform
RH downgraded to Market Perform on valuation at Raymond James
As previously reported, Raymond James downgraded RH to Market Perform from Outperform. Analyst Budd Bugatch said Q1 results were "impressive," but the surge in the share price creates more balanced risk/reward.
06/21/18
KEYB
06/21/18
NO CHANGE
KEYB
Supreme Court ruling negative for Wayfair, eBay and Etsy, says KeyBanc
After the Supreme Court ruled that states can require online merchants to collect sales taxes, KeyBanc analyst Edward Yruma called the ruling a negative for Wayfair (W), arguing that it may reduce some of the price differential that has helped it gain share from traditional peers. The ruling is also a negative, but to a lesser degree, for eBay (EBAY) and Etsy (ETSY), said Yruma, who views the impact on those two as more related to compliance and implementation. He adds that the news could be a modest positive for retailers of high-ticket and branded products, such as Best Buy (BBY), Home Depot (HD), Lowe's (LOW), La-Z-Boy (LZB), Kirkland's (KIRK), RH (RH) and Williams-Sonoma (WSM).
07/03/18
LOOP
07/03/18
NO CHANGE
Target $175
LOOP
Buy
RH price target raised to $175 from $160 at Loop Capital
Loop Capital analyst Anthony Chukumba raised his price target on RH to $175 and kept his Buy rating, citing the company's ability to issue debt with no cash interest cost after the completion of its $335M convertible note offering. The analyst says this shows investors' confidence in RH's long term growth prospects, assigning a higher PE multiple in his model to account for increased market bullishness. Chukumba adds that RH is trading at 20.1-times this year's expected earnings, which is a discount to its historical average levels.

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DIS

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MSFT

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MYL

Mylan

$35.57

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JONE

Jones Energy

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PYPL

PayPal

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BLK

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VFC

VF Corp.

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Bank of America

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GSK

GlaxoSmithKline

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GE

General Electric

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WSM

Williams-Sonoma

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LMT

Lockheed Martin

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2.46 (0.77%)

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IWM

iShares Trust Russell 2000 Index Fund

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IWM

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TCF

TCF Financial

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$NSD

NASDAQ Market Internals

$0.00

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