Restoration Hardware nails it, Lands End grows up and Twitter axes COO
Here are your trending tickers for today:
Restoration Hardware (RH), the mid-priced furniture store where you can get new things that look really old, is up nearly 14% today after reporting an explosive first quarter. Earnings per share were up 200% to 18 cents vs. analysts predictions of 11, and revenue rose 22%. The company has been applauded for its turnaround in recent years, after pouring money into new products and showroom expansions.
Sears cast Lands' End (LE) out on its own in April and the company has shown that it's grown up and can make it on its own. The stock is up nearly 12% after reporting a great first quarter. Net income jumped 48%, same store sales also grew about 4%. "The biggest adjustment to life away from Sears has been all the strangers constantly walking through our inventory-holding-places" Lands' End's results implied, "Finally it dawned on us: those strangers are called 'customers' and what they're doing is shopping."
Twitter (TWTR) shares are soaring by more than 4% after COO Ali Rowghani resigned in a story broken last night. Rowghani had been charged with making the service for mainstream and driving growth. Suffice it to say those things weren't coming together for Twitter. More recently Rowghani's sale of 300,000 shares after the end of the May lock-up period also rubbed investors the wrong way. Though he's officially staying at Twitter as an advisor to CEO Dick Costolo, Rawghani's own Twitter account suggests otherwise. In 140 pathos-filled characters the ousted exec said "Goodbye Twitter. It's been an amazing ride and I will cherish the memories".
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