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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%. -
Ascena Retail Group adds Michaels exec to board
The Ascena Retail Group is adding a seasoned retail CEO and a legal expert to its board of directors.
The parent company of Ann Taylor Loft, Ann and other banners announced three changes to its board of directors on Friday. Board member Klaus Eppler is retiring and Carl (“Chuck”) Rubin and Steven L. Kirshenbaum are joining the board.

