Restoration Hardware Reports Wider Loss
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Restoration Hardware Inc., the retailer whose products range from nostalgic 1930s cocktail shakers to oak beds, said its fiscal first-quarter loss widened as sales declined.
The loss widened to $7.93 million, or 44 cents a share, from $4.30 million, or 25 cents a share, a year earlier, the company said. Sales in the quarter ended May 5 fell 2.5% to $67.9 million.
The company’s shares rose 22 cents to close at $7.10 on Nasdaq. They’ve risen 14% in the last year.
Restoration Hardware, based in Corte Madera, Calif., released its results after the close of regular U.S. trading.
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