Restoration Hardware CEO, Now A Billionaire, Aims To Make His Company A Luxury Giant [Forbes]
RH (RH)
Last rh earnings: 3/30 04:05 pm
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US:NYSE Investor Relations:
ir.restorationhardware.com/investor-overview
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Source: Forbes
Gary Friedman, CEO and chairman of RH. (Credit: photo courtesy of RH.)As coronavirus began to sweep across America, putting much of the country in shutdown, luxury furniture retailer RH — formerly known as Restoration Hardware — executed a slew of cost cutting measures. On April 6, CEO Gary Friedman announced that the firm was laying off 440 employees, temporarily furloughing 2,300 workers, and instituting pay cuts for all leadership positions. Its stock, which had traded at more than $250 per share in mid February, plunged to $80.43 on March 23.Since then, RH’s shares have tripled in value, as the firm announced increasingly ambitious goals while weathering the pandemic. Friedman, who joined the $2.6 billion (2019 sales) company in 2001, is now a billionaire worth an estimated $1.5 billion. As RH’s largest individual shareholder, Friedman owns 10% of the company, with options that could lift his stake to 28%.RH’s first quarter which ended on May 2, showed the impact of the pandemic,
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RH
Earnings
- 3/27/24 - Miss
RH
Sec Filings
- 4/12/24 - Form 4
- 4/12/24 - Form 4
- 4/12/24 - Form 4
- RH's page on the SEC website