We give RH and CEO Gary Friedman a lot of grief here - and rightfully so: RH has two jets, a yacht, and a ‘white deer park’ - none of which provides any discernable benefit to shareholders. This stuff is not ok when the stock is working, but it is definitely not ok when the stock is not working and hasn’t worked for years.
Setting that aside, RH heads into earnings with a setup that looks increasingly asymmetric. This quarter is theirs for the taking and could set a new upward trajectory for the stock, if they capitalize.