RH Class A

RH: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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RH Earnings: Near-Term Margin Compression Should Be Transitory; Shares Attractive

Jaime M Katz

Sep 12, 2025

Second-quarter sales of $899 million and adjusted operating margin of 15.1% were in line with RH's guidance. The third-quarter forecast for a 12%-13% adjusted operating margin indicates a drop in profit performance before a return to operating margin expansion.

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RH Class A

RH Earnings: Near-Term Margin Compression Should Be Transitory; Shares Attractive

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