RH: MANAGING RISK BY DURATION ***Reminder - Today (1 pm EST)

Takeaway: Today we’ll host a Flash Call on RH to review key issues impacting RH. More importantly, we’ll address puts/takes across 3 key durations.

Please join us on Today, February 10th at 1:00pm EST for a Flash Call on Restoration Hardware (RH) titled RH: Managing Risk By Duration. On the call we will revisit our bullish thesis on RH and address current challenges in the market - real and perceived. 

 

RH: MANAGING RISK BY DURATION ***Reminder - Today (1 pm EST) - RHclient

 

Given all the noise out there in the market, we want to be clear about delineating risk/reward around each of the following three durations:

  • TRADE (3 weeks or less)
    • Sentiment - and the key issues we hear from investors
    • Risk scenarios based on how RH likely fared operationally and financially in 4Q while retailers were dropping like flies
    • Is the Company's guidance at risk, and if so, how much?
    • 'Deferred Revenue' has gotten a lot of attention year-to-date. Is the concern justified, or overblown?
    • How is e-commerce trending?

 TREND (3 months or more)

    • Catalyst calendar throughout CY2014
      • Store opening cadence
      • Category launch
      • Catalog drops, or lack thereof
    • Management transition - life after Carlos

 TAIL (3 years or less)

    • Inflection point(s) in square footage model
    • Impact of larger format stores on the comp
    • Trade-off between in-store vs. direct revenue
    • Gross Margin Opportunity, real or perceived
    • SG&A leverage - or lack thereof?
    • Capital intensity (something no one asks about)

 Call Details

    • Toll Free Number:
    • Direct Dial Number:
    • Conference Code: 367968#
    • Materials: CLICK HERE  (slides will download one hour prior to the start of the call)

CONTACT

Please email  for more information.

 


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