RH Files 2024 10-K Report

TL;DR

<b>RH has submitted its annual 10-K filing detailing financial performance and position for the fiscal year ending February 3, 2024.</b>

AI Summary

RH (RH) filed a Annual Report (10-K) with the SEC on March 28, 2024. RH filed its 10-K report for the fiscal year ending February 3, 2024. The filing covers financial data for the years 2020 through 2023. Key financial statement items like Property, Plant, and Equipment Net are detailed. Liabilities including Operating Lease and Finance Lease are reported. The company's fiscal year ends on February 3rd annually.

Why It Matters

For investors and stakeholders tracking RH, this filing contains several important signals. This 10-K provides a comprehensive overview of RH's financial health and operational status for the past fiscal year, crucial for investors to assess performance and future outlook. The detailed financial statements and disclosures within the filing are essential for understanding the company's assets, liabilities, and equity, informing investment decisions.

Risk Assessment

Risk Level: medium — RH shows moderate risk based on this filing. The filing is a standard annual report, but the lack of specific financial performance metrics (revenue, net income, etc.) in the provided snippet prevents a deeper risk assessment.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion, and risk factors to form an investment thesis.

Key Numbers

• 2024-02-03 — Fiscal Year End (The end date of the reporting period.)
• 2024-03-28 — Filing Date (The date the 10-K was submitted.)
• 2020-2023 — Reporting Years (Financial data years covered in the filing.)

Key Players & Entities

• RH (company) — Filer
• 0001528849 (company) — Central Index Key
• 5712 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• 453052669 (company) — IRS Number
• 2024-02-03 (date) — Fiscal Year End
• 2024-03-28 (date) — Filing Date
• Restoration Hardware Holdings Inc (company) — Former Company Name

FAQ

Industry Context

RH operates in the retail furniture stores industry, a sector characterized by consumer spending trends and housing market dynamics.

Regulatory Implications

As a publicly traded company, RH is subject to SEC regulations and reporting requirements, including the filing of annual 10-K reports.

What Investors Should Do

1. Access and review the complete 10-K filing for RH.
2. Analyze the financial statements (Income Statement, Balance Sheet, Cash Flow) for detailed performance metrics.
3. Examine the Management's Discussion and Analysis (MD&A) section for insights into business operations and outlook.

Key Dates

• 2024-02-03: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-28: Filing Date — Date the 10-K was officially submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial overview of RH.)

Fiscal Year End

The last day of a company's accounting year. (Indicates the specific period covered by the financial statements in the 10-K.)

Year-Over-Year Comparison

This is the initial filing data provided for the 2024 10-K; comparative data from the previous filing is not available in this snippet.

Key Financial Figures

• $0.0001 — tion 12(b) of the Act: Common Stock , $0.0001 par value RH New York Stock Exchang
• $5 — revenue opportunity for our business of $5 to $6 billion. We believe we can signif
• $6 billion — e opportunity for our business of $5 to $6 billion. We believe we can significantly increa
• $200 billion — elers seeking privacy and luxury in the $200 billion North American hotel industry. We enter
• $20 — ortunity to build over time a projected $20 to $25 billion global brand in terms of
• $25 billion — y to build over time a projected $20 to $25 billion global brand in terms of annual revenue
• $20 million — d annual revenues in the range of $5 to $20 million in 2,000 to 5,000 square feet. We have

Filing Documents

• rh-20240203x10k.htm (10-K) — 4374KB
• rh-20240203xex4d1.htm (EX-4.1) — 25KB
• rh-20240203xex21d1.htm (EX-21.1) — 81KB
• rh-20240203xex23d1.htm (EX-23.1) — 3KB
• rh-20240203xex31d1.htm (EX-31.1) — 15KB
• rh-20240203xex31d2.htm (EX-31.2) — 14KB
• rh-20240203xex32d1.htm (EX-32.1) — 9KB
• rh-20240203xex32d2.htm (EX-32.2) — 9KB
• rh-20240203xex97d1.htm (EX-97.1) — 26KB
• rh-20240203x10k004.jpg (GRAPHIC) — 3KB
• rh-20240203x10k007.jpg (GRAPHIC) — 34KB
• rh-20240203xex97d1001.jpg (GRAPHIC) — 2KB
• 0001558370-24-004248.txt (&nbsp;) — 18483KB
• rh-20240203.xsd (EX-101.SCH) — 112KB
• rh-20240203_cal.xml (EX-101.CAL) — 132KB
• rh-20240203_def.xml (EX-101.DEF) — 474KB
• rh-20240203_lab.xml (EX-101.LAB) — 911KB
• rh-20240203_pre.xml (EX-101.PRE) — 793KB
• rh-20240203x10k_htm.xml (XML) — 3700KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 32 Item 1C. Cybersecurity 32 Item 2.

Properties

Properties 34 Item 3.

Legal Proceedings

Legal Proceedings 35 Item 4. Mine Safety Disclosures 35 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 36 Item 6. [ Reserved ] 38 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 61 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 63 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 116 Item 9A.

Controls and Procedures

Controls and Procedures 116 Item 9B. Other Information 116 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 117 PART III. Item 10. Directors, Executive Officers and Corporate Governance 118 Item 11.

Executive Compensation

Executive Compensation 118 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 118 Item 13. Certain Relationships and Related Transactions, and Director Independence 118 Item 14. Principal Accountant Fees and Services 118 PART IV. Item 15. Exhibits and Financial Statement Schedules 119 Item 16. Form 10-K Summary 119 TABLE OF CONTENTS FORM 10-K | i Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND MARKET DATA This Annual Report on Form 10-K ("Annual Report") contains forward-looking statements that are subject to risks and uncertainties. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will," "short-term," "non-recurring," "one-time," "unusual," "should," "likely" and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Forward-looking statements are subject to risk and uncertainties that may cause actual results to differ materially from those that we expected. We derive many of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors and it is impossible for us to anticipate all factors that could affect our actual results and matters that we identify as "short term," "non-recurring," "unusual," "one-time," or other words and terms of similar meaning may, in fact, recur in one or more future financial reporting periods.

BUSINESS

ITEM 1. BUSINESS Overview RH (collectively, "we," "us," or the "Company") is a leading retailer and luxury lifestyle brand operating primarily in the home furnishings market. Our curated and fully integrated assortments are presented consistently across our sales channels, including our retail locations, websites and Sourcebooks. We offer merchandise assortments across a number of categories, including furniture, lighting, textiles, bathware, dcor, outdoor and garden, and baby, child and teen furnishings. Our retail business is fully integrated across our multiple channels of distribution. We position our Galleries as showrooms for our brand, while our websites and Sourcebooks act as virtual and print extensions of our physical spaces, respectively. We operate our retail locations throughout the United States, Canada, the United Kingdom and Germany. We have an integrated RH Hospitality experience in 16 of our Design Gallery locations, which includes restaurants and wine bars, and we operate both a restaurant and a Champagne & Caviar Bar at the RH Guesthouse New York. Key Value-Driving Strategies In order to achieve our long-term strategies of Product Elevation, Platform Expansion and Cash Generation as well as drive growth across our business, we are focused on the following key strategies and business initiatives: Product Elevation . We believe we have built the most comprehensive and compelling collection of luxury home furnishings under one brand in the world. Our products are presented across multiple collections, categories and channels that we control, and their desirability and exclusivity has enabled us to achieve strong revenues and margins. Our customers know our brand concepts as RH Interiors, RH Contemporary, RH Modern, RH Outdoor, RH Beach House, RH Ski House, RH Baby & Child, RH TEEN and Waterworks. Our strategy is to continue to elevate the design and quality of our product. With the recent launch of the fall RH Interiors and RH Contemporary So

View Full Filing

View this 10-K filing on SEC EDGAR