Restoration Hardware Inc. generated $1.7 million in net income and $525.8 million in revenue during fiscal 2004, both increases from the $2.5 million net loss on $438.5 million in revenue it reported during fiscal 2003. The year ended Jan. 29.
The Corte Madera, CA-based firm’s results were boosted by its direct-to-consumer activities. During 2004, it generated $119 million, or 22.6% of its total revenue, from direct sales, up from $67.9 million, or 15.5%, in 2003.
At the same time, the firm’s selling, general and administrative expenses as a percentage of its revenue remained the same at 30.8%.
The jump in direct marketing sales follows a 52% increase in direct sales during the previous year.
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