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Restoration Hardware keeps building on growth streak
Restoration Hardware Holdings’ (RH) innovative store growth initiatives are starting to bear fruit, as the luxury home furnishings retailer reported record sales and profits in the third quarter.
For the period ended Oct. 31, the company reported net income of $20.7 million, or 49 cents per share, compared to $19.4 million for the same period last year.
Revenue increased 10% to $532.4 million, from $484.7 million in the year-ago period. It was the firm's 23rd consecutive quarter of double-digit revenue growth. Same-store sales increased 7%. -
COO is elevated to CEO at BJ's Wholesale Club
BJ's Wholesale Club has promoted its COO to president and chief executive officer just months after recruiting him from Hess Retail Corp.
The club retailer announced that Christopher J. Baldwin, BJ's president and chief operating officer, has been named president and CEO, succeeding Laura J. Sen, who is assuming the role of non-executive chairman. The appointment is effective Feb. 1.

