restoration hardware holding (RH) Snapshot

On June 10, 2013, William Forrest submitted his resignation from the Board of Directors of Restoration Hardware Holdings, Inc., effective immediately. Mr. Forrest's decision to resign as a director was not due to any disagreements with the company on any matter relating to the Company's operations, policies or practices.

Restoration Hardware Holdings, Inc. reported unaudited consolidated earnings results for the first quarter ended May 4, 2013. For the period, the company's net revenues were $301,337,000 against $217,914,000 a year ago. Income from operations was $511,000 against loss of $2,097,000 a year ago. Loss before income tax was $329,000 against $3,672,000 a year ago. Net loss was $161,000 against $3,728,000 a year ago. Net cash used in operating activities was $19,623,000 against $8,967,000 a year ago. Capital expenditures were $9,737,000 against $6,193,000 a year ago. Adjusted income from operations was $4,601,000 against loss of $633,000 a year ago. Adjusted income before income tax was $3,761,000 against loss of $2,208,000 a year ago. Adjusted net income was $2,257,000 against loss of $1,325,000 a year ago. EBITDA was $7,141,000 against $4,327,000 a year ago. Adjusted EBITDA was $11,231,000 against $6,159,000 a year ago. Adjusted diluted net income per share was $0.06 against loss of $0.04 a year ago. For the second quarter of fiscal 2013, the company expects net revenues in the range of $375 million to $380 million. Adjusted net income in the range of $15.7 million to $16.5 million and adjusted diluted EPS in the range of $0.40 to $0.42. For the fiscal year ending February 1, 2014, the company is increasing its guidance for net revenues in the range of $1.47 billion to $1.51 billion, adjusted net income in the range of $55.8 million to $58.2 million and adjusted diluted EPS in the range of $1.41 to $1.47. The company previously expects diluted EPS in the range of $1.29 to $1.37.

Restoration Hardware Holdings, Inc. announced that Richard Harvey has joined the company as Chief Merchandising Officer, RH Kitchen and Tableware. Mr. Harvey spent 30 years at Williams-Sonoma, Inc., most recently as President of the Williams-Sonoma Brand. In his role as Chief Merchandising Officer, RH Kitchen and Tableware, Mr. Harvey will develop a curated collection of kitchen furniture, appliances, lighting, cookware, tools and food.