(Finance) – It moves at a loss RHwhich is in sharp decline, showing a loss of 17.67% on previous values.
The former Restoration Hardware pays the price with the first quarter results which showed a red higher than analysts’ expectations and with disappointing guidance for the current period.
In the three months, the high-end furniture retailer recorded a net loss for 3.6 million dollars, equal to 20 cents per share. On an adjusted basis, the red stood at 40 cents per share, above the consensus of 13 cents. They also disappoint revenues dropped to 727 million from 739.2. For the second quarter, RH estimates sales growth of 3%-4% against the +7.4% expected by the market.
The scenario on a weekly basis of RH detects a loosening of the curve compared to the force expressed by theS&P-500. This retreat could make the stock subject to sales by operators.
Technically, RH it is in a strengthening phase with a resistance area seen at 238.8 USD, while the most immediate support can be seen at 221.2. At an operational level, a continuation of the bullish session is expected with resistance seen at 256.4.