RH Stock Tumbles. The Retailer Says Higher Mortgage Rates Are Hurting Demand.

RH stock fell sharply after the home-furnishings retailer said it expects revenue to decline as much as 5% this year. Demand is slowing, the Restoration Hardware owner said, because of surging mortgage rates. RH (ticker: RH) revised its fiscal-year revenue outlook, saying it now expects revenue to fall between 2% and 5%.