RH’s stock rockets 26% to pace all premarket gainers after Q1 report late Wednesday

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RH stock surges 25% after raised guidance and comment on China tariff mitigation

Shares of RH , the retail chain formerly known as Restoration Hardware, rampaged in the extended session Wednesday, rising nearly 25% after the company issued strong full-year guidance and said it was avoiding issues with tariffs related to the U.S.-China trade dispute. The company reported fiscal first-quarter net income of $35.7 million, or $1.43 a share, compared with $25.5 million, or $1.01 a share, in the year-ago period. Adjusted for items such as asset impairment, and recall accrual, among other items earnings were $1.85 a share. Revenue rose to $598.4 million from $557.4 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $1.53 a share on revenue of $584 million. For the fiscal second quarter, analysts model earnings of $2.17 a share on sales of $660 million. The company said it was raising its fiscal 2019 guidance: it now expects full-year adjusted earnings of $8.76 to $9.27 a share on revenue of $2.64 billion to $2.66 billion. RH also said that the company had taken several measures to mitigate the effects on the U.S.-China trade dispute and that in the long run the tariffs will not impact its ability to achieve its financial goals. RH stock has fallen 39% in the past year, with the S&P 500 index rising 3.6%.

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