- Telsey Advisory Group analyst Cristina Fernández reiterated a Market Perform rating on the shares of RH (NYSE:RH) with a price target of $225.
- RH is reporting 1Q earnings after the markets close on Thursday, May 25.
- The analyst expects softened consumer discretionary spending in categories like home furnishings and home improvement to weigh on the quarterly results.
- The analyst notes that retailers’ results in 1Q23 and retail sales data from the U.S. government confirm the weak trend.
- Near-term uncertainties loom large on the stock, as the company has been pessimistic about the housing market on recent calls, citing a weak demand environment.
- For the quarter to be reported, the analyst sees a sales decline of 24% to $727.5 million. EPS is expected to be $2.06.
- The analyst sees an operating margin contraction of 1,100 bps to 13.7%, with a gross margin contraction of 600 bps Y/Y to 47.1%.
- In the first quarter, the company may see sales deleverage and investments in advertising related to new products as it opens new stores.
- Overall, at this point in the year, RH is pointing toward the low-to-mid-end of its existing guidance range.
- On the positive side, the brand remains healthy, and RH has new product introductions this year and the opening of its first international store, RH England, in June.
- Further out, RH plans to open nine more international stores in 2024-2025 and smaller format stores in the U.S.
- Price Action: RH shares are down by 0.36% to $255.76 on the last check Tuesday.
NEJM Evidence Publishes Results for ImmunityBio’s QUILT 3.032 Registrational Trial of IL-15 Superagonist N-803 Plus BCG in Patients with Bladder Cancer; Primary Endpoint Met
NEJM Evidence has published results from the QUILT 3.032 trial studying N-803 plus BCG in adults with NMIBC CIS with or without Ta/T1 papillary disease. These positive data form the basis of ImmunityBio's BLA for BCG-unresponsive NMIBC CIS, which the FDA accepted for review in July 2022.
