RH 10-Q: Lease Commitments and Liabilities Detailed

Ticker: RH · Form: 10-Q · Filed: 2024-09-12T00:00:00.000Z

Sentiment: neutral

Topics: financials, liabilities, leases, 10-Q

TL;DR

RH's 10-Q shows $18.48M in current liabilities, with significant lease obligations detailed.

AI Summary

RH (Restoration Hardware) filed its 10-Q for the period ending August 3, 2024. The company reported current liabilities including Accounts Payable and Accrued Liabilities totaling $18.48 million, a slight increase from $18.32 million in the prior period. The filing also references various lease-related assets and liabilities, indicating ongoing operational and financing lease commitments.

Why It Matters

This filing provides insight into RH's short-term financial obligations and its long-term lease strategy, which can impact its operational flexibility and profitability.

Risk Assessment

Risk Level: medium — The filing details significant lease liabilities, which can represent substantial long-term financial commitments for the company.

Key Numbers

$18.48M — Accounts Payable and Accrued Liabilities (Current) (Represents short-term obligations as of August 3, 2024.)
$18.32M — Accounts Payable and Accrued Liabilities (Prior Period) (Provides a comparison point for current liabilities.)

Key Players & Entities

RH (company) — Filer of the 10-Q
Restoration Hardware (company) — Former name of RH
August 3, 2024 (date) — End of the reporting period
$18.48 million (dollar_amount) — Accounts Payable and Accrued Liabilities (Current)
$18.32 million (dollar_amount) — Accounts Payable and Accrued Liabilities (Prior Period)

FAQ

What is the total value of RH's current liabilities as of August 3, 2024?

RH's current liabilities, specifically Accounts Payable and Accrued Liabilities, were $18,482,697 as of August 3, 2024.

How do RH's current liabilities compare to the previous reporting period?

RH's Accounts Payable and Accrued Liabilities increased slightly from $18,315,613 in the prior period to $18,482,697 as of August 3, 2024.

What types of lease obligations are detailed in the filing?

The filing references Operating Lease Right-Of-Use Assets, Operating Lease Liabilities (Current and Noncurrent), and Finance Lease Liabilities (Noncurrent).

What is the company's primary business as indicated by its SIC code?

RH's Standard Industrial Classification (SIC) code is 5712, which corresponds to Retail-Furniture Stores.

When was the company formerly known as Restoration Hardware Holdings Inc.?

The company was formerly known as Restoration Hardware Holdings Inc. until August 30, 2011, when its name was changed.

From the Filing

0001558370-24-012768.txt : 20240912 0001558370-24-012768.hdr.sgml : 20240912 20240912170039 ACCESSION NUMBER: 0001558370-24-012768 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 102 CONFORMED PERIOD OF REPORT: 20240803 FILED AS OF DATE: 20240912 DATE AS OF CHANGE: 20240912 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RH CENTRAL INDEX KEY: 0001528849 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FURNITURE STORES [5712] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 453052669 STATE OF INCORPORATION: DE FISCAL YEAR END: 0201 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-35720 FILM NUMBER: 241295593 BUSINESS ADDRESS: STREET 1: 15 KOCH ROAD STREET 2: SUITE K CITY: CORTE MADERA STATE: CA ZIP: 94925 BUSINESS PHONE: 415-924-1005 MAIL ADDRESS: STREET 1: 15 KOCH ROAD STREET 2: SUITE K CITY: CORTE MADERA STATE: CA ZIP: 94925 FORMER COMPANY: FORMER CONFORMED NAME: Restoration Hardware Holdings Inc DATE OF NAME CHANGE: 20110830 10-Q 1 rh-20240803x10q.htm 10-Q RH 0001528849 --02-01 2024 Q2 false http://fasb.org/us-gaap/2024#OperatingLeaseRightOfUseAsset http://fasb.org/us-gaap/2024#PropertyPlantAndEquipmentNet http://fasb.org/us-gaap/2024#OperatingLeaseLiabilityCurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2024#OperatingLeaseLiabilityNoncurrent http://fasb.org/us-gaap/2024#FinanceLeaseLiabilityNoncurrent 0 0 http://fasb.org/us-gaap/2024#AccountsPayableAndAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2024#AccountsPayableAndAccruedLiabilitiesCurrent 18482697 18315613 http://fasb.org/us-gaap/2024#OperatingLeaseRightOfUseAsset http://fasb.org/us-gaap/2024#PropertyPlantAndEquipmentNet http://fasb.org/us-gaap/2024#OperatingLeaseLiabilityCurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2024#OperatingLeaseLiabilityNoncurrent http://fasb.org/us-gaap/2024#FinanceLeaseLiabilityNoncurrent http://www.restorationhardware.com/20240803#LiborMember 0001528849 rh:OperatingAndFinanceLeaseLeaseNotYetCommencedMember 2024-08-03 0001528849 rh:AspenLlcSMember 2024-05-05 2024-08-03 0001528849 rh:AspenLlcSMember 2024-02-04 2024-08-03 0001528849 rh:AspenLlcSMember 2023-04-30 2023-07-29 0001528849 rh:AspenLlcSMember 2023-01-29 2023-07-29 0001528849 us-gaap:CommonStockMember 2024-05-05 2024-08-03 0001528849 us-gaap:CommonStockMember 2023-04-30 2023-07-29 0001528849 us-gaap:RetainedEarningsMember 2024-08-03 0001528849 us-gaap:AdditionalPaidInCapitalMember 2024-08-03 0001528849 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-08-03 0001528849 us-gaap:RetainedEarningsMember 2024-05-04 0001528849 us-gaap:AdditionalPaidInCapitalMember 2024-05-04 0001528849 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-05-04 0001528849 us-gaap:RetainedEarningsMember 2024-02-03 0001528849 us-gaap:AdditionalPaidInCapitalMember 2024-02-03 0001528849 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-02-03 0001528849 us-gaap:RetainedEarningsMember 2023-07-29 0001528849 us-gaap:AdditionalPaidInCapitalMember 2023-07-29 0001528849 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-07-29 0001528849 us-gaap:RetainedEarningsMember 2023-04-29 0001528849 us-gaap:AdditionalPaidInCapitalMember 2023-04-29 0001528849 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-04-29 0001528849 us-gaap:RetainedEarningsMember 2023-01-28 0001528849 us-gaap:AdditionalPaidInCapitalMember 2023-01-28 0001528849 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-28 0001528849 us-gaap:CommonStockMember 2024-08-03 0001528849 us-gaap:CommonStockMember 2024-05-04 0001528849 us-gaap:CommonStockMember 2024-02-03 0001528849 us-gaap:CommonStockMember 2023-07-29 0001528849 us-gaap:CommonStockMember 2023-04-29 0001528849 us-gaap:CommonStockMember 2023-01-28 0001528849 rh:TwoThousandTwentyThreeStockIncentivePlanMember 2024-08-03 0001528849 us-gaap:OtherCurrentLiabilitiesMember 2024-08-03 0001528849 us-gaap:OtherCurrentLiabilitiesMember 2024-02-03 0001528849 rh:NonFurnitureMember 2024-05-05 20