The divergence between non-GAAP and GAAP earnings is massive. I guess management is presenting this as a restructuring charge, but it is still an enormous number. I thought the bears were going to get squeezed on this one, but it looks like I was wrong. I am glad I chose to sit on the sideline.
A sleezy masquerade - loss of 46 cents per share vs. a profit of 46 cents YOY - unacceptable with RH's rich valuation. Agreed, the compensation plan is egregious. Glad to have a few Oct 75 puts in my acct.