$RH

Restoration Hardware Holdings Inc

CIK:0001528849|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2026	Aug. 02, 2025	Aug. 01, 2026	Aug. 02, 2025
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
Net revenues	$ 922,150	$ 899,151	$ 1,722,478	$ 1,713,103
Cost of goods sold	477,297	489,892	946,366	948,511
Gross profit	444,853	409,259	776,112	764,592
Selling, general and administrative expenses	337,280	280,383	634,296	579,805
Operating income	107,573	128,876	141,816	184,787
Other expenses
Interest expense-net	50,993	57,358	103,656	113,961
Other income-net	(1,856)	(574)	(1,119)	(4,227)
Total other expenses	49,137	56,784	102,537	109,734
Income before taxes and equity method investments	58,436	72,092	39,279	75,053
Income tax expense	16,249	19,032	10,347	22,159
Income before equity method investments	42,187	53,060	28,932	52,894
Share of equity method investments net income	(17,980)	1,352	(17,538)	(6,853)
Net income	$ 60,167	$ 51,708	$ 46,470	$ 59,747
Weighted-average shares used in computing basic net income per share	18,913,130	18,737,234	18,879,222	18,733,119
Basic net income per share	$ 3.18	$ 2.76	$ 2.46	$ 3.19
Weighted-average shares used in computing diluted net income per share	19,669,307	19,737,331	19,654,650	19,825,282
Diluted net income per share	$ 3.06	$ 2.62	$ 2.36	$ 3.01

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Aug. 01, 2026	Aug. 02, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 46,470	$ 59,747
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	79,678	69,865
Non-cash operating lease cost	55,627	51,106
Stock-based compensation expense	24,412	24,007
Asset impairments	523	3,948
Non-cash finance lease interest expense	24,152	18,193
Product recall		1,913
Share of equity method investments net income	(17,538)	(6,853)
Non-cash loss on variable interest entities restructuring	10,699
Distribution of return on equity method investment	8,050	4,630
Other non-cash items	4,694	2,098
Change in assets and liabilities:
Accounts receivable	(15,727)	2,407
Merchandise inventories	43,787	73,595
Prepaid expense and other assets	(10,973)	(13,118)
Landlord assets under construction-net of tenant allowances	(78,365)	(46,486)
Accounts payable and accrued expenses	39,376	(22,239)
Deferred revenue and customer deposits	64,052	54,800
Other current liabilities	(3,354)	13,451
Current and non-current operating lease liabilities	(54,577)	(50,447)
Other non-current liabilities	(23,268)	(16,298)
Net cash provided by operating activities	197,718	224,319
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(84,859)	(109,565)
Acquisition of business		(32,119)
Equity method investments		(374)
Acquisition of intangible asset		(3,031)
Receipt of promissory note repayment from equity method investee		1,750
Distribution of return of equity method investment	41,950	7,916
Proceeds from insurance recoveries		1,275
Net cash used in investing activities	(42,909)	(134,148)
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowings under asset based credit facility	165,000	260,000
Repayments under asset based credit facility	(185,000)	(325,000)
Repayments under term loans	(12,500)	(12,500)
Repayments under real estate loans	(31,540)	(169)
Debt issuance costs		(2,766)
Principal payments under finance lease agreements-net of tenant allowances	(10,099)	(8,031)
Proceeds from exercise of stock options	4,010	1,258
Tax withholdings related to issuance of stock-based awards	(18)	(31)
Net cash used in financing activities	(70,147)	(87,239)
Effects of foreign currency exchange rate translation on cash	(361)	1,215
Net increase in cash and cash equivalents	84,301	4,147
Cash and cash equivalents
Beginning of period	41,191	30,413
End of period	125,492	34,560
Non-cash transactions
Property and equipment additions in accounts payable and accrued expenses at period-end	23,187	32,089
Landlord asset additions in accounts payable and accrued expenses at period-end	15,218	$ 11,439
Property and equipment additions acquired in VIE restructuring (Note 6)	60,500
Real estate loan acquired in VIE restructuring (Note 6)	$ (31,372)

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 01, 2026	Jan. 31, 2026
Current assets:
Cash and cash equivalents	$ 125,492	$ 41,191
Accounts receivable-net	79,130	63,447
Merchandise inventories	772,716	818,550
Prepaid expense and other current assets	181,824	184,474
Total current assets	1,159,162	1,107,662
Property and equipment-net	2,594,220	2,158,718
Operating lease right-of-use assets	864,669	795,352
Goodwill and intangible assets-net	224,366	224,016
Deferred tax assets	128,326	128,375
Equity method investments	69,143	119,754
Other non-current assets	91,214	301,833
Total assets	5,131,100	4,835,710
Current liabilities:
Accounts payable and accrued expenses	423,454	386,736
Deferred revenue and customer deposits	402,033	338,504
Operating lease liabilities	113,332	110,280
Other current liabilities	94,255	95,086
Total current liabilities	1,033,074	930,606
Real estate loan-net	15,027	15,199
Non-current operating lease liabilities	749,376	705,084
Non-current finance lease liabilities	837,192	718,837
Deferred tax liabilities	17,352	17,731
Other non-current liabilities	13,839	13,984
Total liabilities	5,010,753	4,775,110
Commitments and contingencies (Note 14)
Stockholders' equity
Preferred stock-$0.0001 par value per share, 10,000,000 shares authorized, no shares issued or outstanding as of August 1, 2026 and January 31, 2026
Common stock-$0.0001 par value per share, 180,000,000 shares authorized, 18,931,251 shares issued and outstanding as of August 1, 2026; 18,818,976 shares issued and outstanding as of January 31, 2026	2	2
Additional paid-in capital	438,865	410,461
Accumulated other comprehensive income	21,075	36,202
Accumulated deficit	(339,595)	(386,065)
Total stockholders' equity	120,347	60,600
Total liabilities and stockholders' equity	5,131,100	4,835,710
Asset based credit facility
Current liabilities:
Asset based credit facility		20,000
Term loan B
Current liabilities:
Term loan-net	1,877,971	1,886,370
Term loan B-2
Current liabilities:
Term loan-net	$ 466,922	$ 467,299