RH Q2 adjusted earnings Beat Estimates
RH (RH) reported a profit for its second quarter that advanced from the same period last year.
The company’s bottom line totaled $226.7 million, or $7.09 per share. This compares with $98.4 million, or $3.71 per share, in last year’s second quarter.
Excluding items, RH reported adjusted earnings of $251.6 million or $8.48 per share for the period.
Analysts had expected the company to earn $6.48 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 39.5% to $989.0 million from $709.2 million last year.
RH earnings at a glance:
-Earnings (Q2): $251.6 Mln. vs. $123.0 Mln. last year.
-EPS (Q2): $8.48 vs. $4.90 last year.
-Analysts Estimate: $6.48
-Revenue (Q2): $989.0 Mln vs. $709.2 Mln last year.
Ron DeSantis Laments Politicization Of Face Masks After Politicizing Face Masks
Florida Gov. Ron DeSantis has spent much of the pandemic criticizing mask mandates and spreading disinformation about the COVID-19 vaccines.
Since his efforts were primarily designed to appeal to conservative voters, it was ironic on Wednesday when he lamented that the issue of face masks has become so politicized.
“I don’t know why the masks have politics around it,” DeSantis told reporters. “Let the parent make the decision that’s best for their kids. If you want the masks, do it, if you don’t, don’t ― that’s fine.”
Although DeSantis decried the politicization of wearing face masks in public, he has politicized the virus by raising funds selling products that demonize Anthony Fauci and mock the COVID-19 vaccines.
The governor has also issued an executive order threatening to cut funding from school districts that defy a statewide ban on classroom mask mandates. However, on Wednesday, a judge ruled that the state cannot enforce the ban.
DeSantis is doing this even though Florida is experiencing a surge in the highly contagious delta variant, overwhelmingly driven by unvaccinated residents. DeSantis keeps falsely insisting that actions such as wearing a mask in public or getting a vaccine is a personal choice, one that “doesn’t impact me or anyone else.”
Not surprisingly, many Twitter users called out the governor on his hypocrisy.
PetSmart Recalls Top Paw Double Diner Dog Bowls
PetSmart Home Office Inc. is recalling about 100,300 units of Top Paw Double Diner Dog Bowls citing laceration hazard, the U.S. Consumer Product Safety Commission said.
The product comes as a set of two metal dog food bowls that are elevated off the ground in a metal base surrounded by a plastic gasket. The dog bowls have a dog paw print on the front of the bowls. The SKU number is 5270098 and UPC number is 73725775404.
The dog food bowls, manufactured in India, were sold at PetSmart stores nationwide and online at www.petsmart.com from October 2017 through June 2021 for about $28.
According to the agency, the gasket on the bottom of the dog bowls can come off, leaving an unfinished edge, posing a risk of laceration.
The Phoenix, Arizona-based PetSmart initiated the recall after receiving three reports of cuts and scratches to consumers’ hands as a result of handling the unfinished edge on the recalled dog bowls.
Consumers are urged to return the dog bowls to any PetSmart store for a full refund.
In similar recalls, Dollar General Corp. in early August called back about 155,000 units of True Living Sling Loungers for potential risk of amputation, laceration, and pinching hazard.
Stocks making the biggest moves after hours: Lululemon, Boston Beer, GameStop & more
Check out the companies making headlines after the bell:
Lululemon — Shares of the athletic retailer surged more than 10% in after hours trading on Wednesday after reporting fiscal second-quarter profit and revenue that topped analysts' expectations. The retailer also offered a better-than-expected outlook for the third quarter and for the year.
Boston Beer — Shares of the alcoholic beverage company tanked 9% in after hours trading on Wednesday after pulling its earnings guidance amid slowing growth in its hard seltzer brand. "The Company now expects to incur hard seltzer-related inventory write-offs, shortfall fees payable to 3rd party brewers, and other costs that will be expensed during the remainder of fiscal 2021," the company said in a press release.
RH — Shares of the furniture retailer rose 3% in extended trading on Wednesday after beating on the top and bottom lines of its quarterly results. RH earned $8.48 per share, topping estimates of $6.48 per share, according to Refinitiv. Revenue came in at $989 million, above expectations of $975.4 million.
GameStop — Shares of the brick-and-mortar video game retailer slumped 2% after the bell on Wednesday after reporting a loss of 76 cents per share. The company said it made $1.8 billion in revenue. EPS and revenue were not comparable to estimates.
GameStop Corp. Q2 adjusted earnings Miss Estimates
Below are the earnings highlights for GameStop Corp. (GME):
-Earnings: -$61.6 million in Q2 vs. -$111.3 million in the same period last year.
-EPS: -$0.85 in Q2 vs. -$1.71 in the same period last year.
-Excluding items, GameStop Corp. reported adjusted earnings of -$55.0 million or -$0.76 per share for the period.
-Analysts projected -$0.06 per share
-Revenue: $1.18 billion in Q2 vs. $0.94 billion in the same period last year.
Opinion | Trump Wants Your Money. Again.
By Gail Collins