Hints and tips:
...On the other side of the street, much the same story was playing out at RH’s 90,000-square-foot furnishings flagship....
...On Thursday, Friedman announced that RH was cutting its financial forecasts because of “multiple macro headwinds”....
...Ever since, he has been investing the proceeds of the watches, massage chairs, iPods and Razor scooters he sold, building a portfolio worth up to $350mn with stocks including Amazon, RH and Home Depot....
...Berkshire Hathaway acquired 1.2m shares in RH, previously known as Restoration Hardware. The investment, valued at $206m, amounts to a 6.5 per cent stake in the company....
...According to S&P Capital IQ, in the past 12 months RH made $241m of ebitda. With an enterprise value of $4.2bn, this means it trades at a multiple of 17 times....
...In the same year, RH reported $2m of net income....
...RH’s advance accompanied a rangebound day for US stocks with the S&P 500 barely moved at 2,465 at the close in New York....
...Williams-Sonoma, which owns West Elm and Pottery Barn, fell 2.4 per cent to $52.59 while RH, formerly Restoration Hardware, shed nearly 3 per cent to $99.48....
...With Friday’s decline, RH’s year-to-date gains were trimmed to about 39 per cent. RH’s drop came as Wall Street shrugged off the disappointing US jobs report to trade higher....
...Mr Friedman also said results were hamstrung by production delays at RH Modern, headwinds in markets that are affected by energy, and blamed a slowdown in the luxury consumer market for the weak results....
US stocks decline amid concerns over Greek deal impasse
Sudden turbulent decline hits industry after recent highs
US equity markets advance on improved consumer spending
...The show, which aims to celebrate the vibrancy of spring, includes the RHS Early Daffodil Competition and runs until Friday....
US equities on the ascent
...Dun & Bradstreet, once a sprawling business media empire, began 15 years ago to dispose of brands including Gartner, RH Donnelly and Moody’s, S&P’s rating rival....
...The divergences between the short-term (3m) prevailing interest rate and that implied by the rule have been particularly great across the “periphery” economies (RH chart) compared with the core (LH chart...
...The magnolia specialist – who is also RHS chief curator – took up the new job only last week....
...In comparison, there were 45 defaults in the first two months of last year… In the leveraged loan market, only one Moody’s-rated loan issuer – Penton Media, Inc.- defaulted in February....
...The bankruptcy of Verizon’s former directories business, along with restructurings at rivals RH Donnelley and Yell, illustrated the consequences of piling debt on the supposedly steady cash flows of directory...
...Shares in the UK’s Yell have fallen 87 per cent in a year and Idearc and RH Donnelley, its US rival, are off 97 per cent....
...In the broader market, RH Donnelley lost more than half its value after the Yellow Pages publisher reduced its earnings forecast and scrapped plans for a dividend....
...Meanwhile, there were also signs of investor appetite returning in the market for high-yield bonds Wednesday, where RH Donnelley, a publishing company, sold $500m of 10-year bonds with a coupon of 8.9 per...
...As the Chelsea Flower Show opens to members on Tuesday, the RHS has just the hint of controversy to cope with....
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