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Restoration Hardware retooling its strategy
Restoration Hardware is in the middle of a strategy overhaul that may slow down revenue growth, but the retailer did post better-than-expected profits in the fourth quarter.
Restoration Hardware Holdings Inc. reported that its profit for the fourth quarter increased a better-than-expected 25% to $42.5 million from $34 million in the year-ago period. Restoration Hardware’s total sales in the fourth quarter grew 23.5% to $582.7 million. For the year, the company reported profit of $91 million. Revenue was reported as $1.87 billion.
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Profit drops as Belk embarks on expansion
Belk blamed costs associated with strategic initiatives for its drop in profit in the fourth quarter.
The retailer reported a 7.8% decrease in net income to $146.1 million during the fiscal year that ended Jan. 31, compared with from $158.5 million in fiscal 2014.

