Why Shares of RH Are Rocketing 40% Higher Today

Shares of RH (NYSE: RH), a luxury retailer in the home furnishing industry, are punishing bearish short-sellers this morning, gaining a staggering 40% as of 11:30 a.m. EDT after the company reported second-quarter results.

This certainly wasn't your average second-quarter report, and there are a lot of factors to consider, but let's start with the basics. RH's top-line revenue jumped 13% compared to the prior year and its adjusted net income checked in at $19.7 million compared to the prior year's $17.9 million. On the bottom line, its adjusted earnings per share jumped to $0.65, far above the prior year's $0.44 per share and higher than estimates calling for $0.47 per share.

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Source: Fool.com