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Report: Restoration Hardware to open largest U.S. store in Las Vegas
Corte Madera, Calif. - RH (Restoration Hardware Holdings Inc.) is reportedly planning to open a more than 70,000-sq.-ft. RH Gallery format store at the Tivoli Village upscale shopping center in Las Vegas. According to the Las Vegas Review Journal, the store would be the largest Restoration Hardware location in the U.S.
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Urban Outfitters misses on profit, sales in Q1
Philadelphia – Urban Outfitters Inc. missed Wall Street expectations for net income, sales and same-store sales during the first quarter of fiscal 2015. Net income fell 12% to $32.78 millio,n from $37.48 million the same quarter a year earlier.
Lower margins and higher delivery and fulfillment expense helped drive down net income. Sales reached a record high of $739 million, up 8% from $686.31 million, but still fell short of Wall Street expectations. Same-store sales rose 4%.