AllAnalyst Report
logoMorningstarDecember 09, 2021

RH: Luxury Spend Presses On, Bolstering RH’s Outlook; Global Expansion Set for 2022

Symbols
RH
Sector(s)
Consumer Cyclical
Rating
Current Price
$391.40
Fair Value
Economic Moat
Stewardship
Summary

RH is a luxury retailer operating in the $112 billion furniture and home furnishing industry. The company offers merchandise across many categories including furniture, lighting, textiles, bath, decor, children, and more and is growing the presence of its hospitality business (with 11 restaurant locations). RH innovates, curates, and integrates products, categories, services, and businesses across channels and brand extensions (RH Teen, RH Modern, and Waterworks, for example). The company is fully integrated across store, Web, and catalog channels, and is positioned to broaden its total addressable market with the launch of its World of RH digital platform in 2022, along with future offerings in contemporary, antique, bespoke furniture, couture upholstery, and more.

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Analyst Profile

Jaime M. Katz

Senior Equity Analyst
Jaime M. Katz, CFA, is a senior equity analyst for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. She covers home improvement retailers and travel and leisure.Before joining Morningstar in 2011, Katz was an associate for Credit Agricole Corporate and Investment Bank. She also worked in equity research for William Blair for three years and spent three years in asset management at Mesirow Financial.Katz holds a bachelor's degree in economics from the University of Wisconsin and a master's degree in business administration from the University of Chicago Booth School of Business. She also holds the Chartered Financial Analyst® designation. She ranked first in the leisure goods and services industry in The Wall Street Journal's annual “Best on the Street” analysts survey in 2013, the last year the survey was conducted.