Dive Summary:
- Food and retail sales increased revenue overall by 0.6% from last month’s totals and an increase of 3.4% over 2012.
- Restoration Hardware shares rise sharply after announcing it will hire former Williams-Sonoma executive to assist in product innovation for RH Kitchen and Tableware, according to sources.
- The new division of RH Holdings, RH Kitchen and Tableware, will be geared toward "kitchen furniture, appliances, lighting, cookware, tools and food," according to statement released by the company.
From the article:
Bucking the general malaise in the sector on Friday was Restoration Hardware (RH_), which rose on better-than-expected earnings … shares surged 16.1% to $68.47 after the home-furnishing company hiked its current quarter outlook and reported first-quarter earnings that beat expectations by 2 cents at 6 cents a share. Revenue also topped estimates as same-store sales soared by 41% in the first quarter