Restoration Hardware emphasizes that it’s ” the worst housing market in 30 years”

Restoration Hardware is out with third quarter results and shares are up 13% after hours as they were much better than feared. The company isn’t shy about sharing its views on the economy so the call later will be notable.

Here are some macro highlights of the release:

• “The positive inflection of our business continued to gain momentum with third quarter demand increasing 13% despite operating in the worst housing market in 30 years.”
• “We do not expect a negative impact to margins as a result of the most recent communications regarding the potential for increased tariffs in 2025. We have been proactively moving sourcing away from China over the past several years with the expectation of fully exiting the country by the end of the second quarter.”
• The company boosted guidance: “Q4 Total Demand growth of 20% to 22%, and Revenue growth of 18% to 20%”

I’d file this under: The wealthy and the upper middle class have been doing great in this economy, and the recent gains in the stock market will aid further.

This article was written by Adam Button at www.forexlive.com.