Friday January 11, 01:29 PM
Restoration Hardware holiday sales fell 1%, shy of the company's expectations
BOSTON (Thomson Financial) - Restoration Hardware Inc. said Friday that its holiday sales for the nine weeks ended Jan. 5 fell 1% to $171.5 million from $173.2 million in the same period a year earlier.
The Corte Madera, Calif.-based
specialty home furnishings retailer, said the holiday sales didn't meet its expectations. The company's anticipated seasonal sales in gift items didn't materialize, contributing to softness that was concentrated in its decorative accessories business, Restoration said.
Restoration's circulated page count also declined 17% versus a year ago.
The stock closed at $4.31 on Thursday.
Greg Saulnier
gs/tk1
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