Restoration Hardware Inc. reported net income of $7.9 million for its fourth quarter, down from $9.7 million last year. The cataloger and retailer generated net revenue of $165 million for the quarter ended Jan. 31, up 6% from net revenue of $155.2 million last year. Revenue for the Corte Madera, CA firm's catalog and Internet divisions was $26.6 million, up 51% from $17.6 million last year. "While
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Restoration Hardware Inc. reported net income of $7.9 million for its fourth quarter, down from $9.7 million last year.
The cataloger and retailer generated net revenue of $165 million for the quarter ended Jan. 31, up 6% from net revenue of $155.2 million last year.
Revenue for the Corte Madera, CA firm's catalog and Internet divisions was $26.6 million, up 51% from $17.6 million last year.
"While holiday sales in seasonal items were disappointing, our Direct-to-Customer division growth of 51% in the fourth quarter demonstrate the underlying strength of our core businesses," said CEO Gary Friedman, in a statement.
