Why RH Stock Gained 21% in July
RH (NYSE: RH) stock last month gained 21%, easily eclipsing the S&P 500's 1% uptick, according to S&P Global Market Intelligence. That boost put shareholders back into positive returns for the year, with the stock up 12% so far in 2019, compared to a 14% increase in the wider market.
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Investors celebrated news that the luxury furniture seller is boosting its outlook. Executives said in late July that second-quarter sales should rise to between $696 million and $699 million, up from the prior range of between $681 million and $688 million. RH also hiked its earnings projection to a maximum of $2.72 per share, compared to $2.47 per share previously.
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