Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

RH, consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Apr 29, 2023	Jan 28, 2023	Oct 29, 2022	Jul 30, 2022	Apr 30, 2022	Jan 29, 2022	Oct 30, 2021	Jul 31, 2021	May 1, 2021	Jan 30, 2021	Oct 31, 2020	Aug 1, 2020	May 2, 2020	Feb 1, 2020	Nov 2, 2019	Aug 3, 2019	May 4, 2019	Feb 2, 2019	Nov 3, 2018	Aug 4, 2018	May 5, 2018	Feb 3, 2018	Oct 28, 2017	Jul 29, 2017	Apr 29, 2017
Net revenues	739,162)	772,499)	869,066)	991,620)	957,292)	902,741)	1,006,428)	988,859)	860,792)	812,436)	844,013)	709,282)	482,895)	664,976)	677,526)	706,514)	598,421)	670,891)	636,558)	640,798)	557,406)	670,295)	592,473)	615,326)	562,080)
Cost of goods sold	(391,617)	(403,093)	(448,288)	(468,402)	(458,709)	(447,237)	(501,174)	(501,183)	(453,815)	(427,308)	(435,683)	(376,863)	(283,241)	(381,903)	(393,360)	(411,556)	(365,607)	(408,190)	(382,047)	(369,198)	(345,371)	(411,622)	(378,148)	(409,513)	(391,824)
Gross profit	347,545)	369,406)	420,778)	523,218)	498,583)	455,504)	505,254)	487,676)	406,977)	385,128)	408,330)	332,419)	199,654)	283,073)	284,166)	294,958)	232,814)	262,701)	254,511)	271,600)	212,035)	258,673)	214,325)	205,813)	170,256)
Selling, general and administrative expenses	(248,305)	(257,201)	(250,528)	(288,804)	(293,295)	(237,738)	(232,715)	(238,688)	(219,089)	(201,512)	(297,109)	(195,851)	(164,201)	(182,093)	(194,929)	(190,977)	(164,181)	(159,463)	(207,495)	(186,225)	(158,434)	(189,553)	(171,163)	(193,690)	(163,360)
Income from operations	99,240)	112,205)	170,250)	234,414)	205,288)	217,766)	272,539)	248,988)	187,888)	183,616)	111,221)	136,568)	35,453)	100,980)	89,237)	103,981)	68,633)	103,238)	47,016)	85,375)	53,601)	69,120)	43,162)	12,123)	6,896)
Interest expense, net	(39,816)	(34,674)	(31,417)	(26,264)	(20,855)	(24,835)	(13,223)	(13,581)	(13,308)	(14,547)	(15,656)	(19,418)	(19,629)	(19,982)	(21,564)	(24,513)	(21,118)	(21,188)	(19,371)	(17,480)	(17,035)	(17,074)	(18,915)	(14,402)	(12,179)
Goodwill and tradename impairment	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(20,459)	—)	—)	—)	—)	(32,086)	—)	—)	—)	(33,700)	—)	—)	—)
(Gain) loss on extinguishment of debt	—)	—)	—)	(23,462)	(146,116)	(7,354)	(18,513)	(3,166)	(105)	—)	—)	152)	—)	(569)	(6,857)	954)	—)	—)	—)	(917)	—)	—)	(4,880)	—)	—)
Other expense, net	653)	4,811)	(1,989)	(3,195)	343)	(2,778)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other expenses	(39,163)	(29,863)	(33,406)	(52,921)	(166,628)	(34,967)	(31,736)	(16,747)	(13,413)	(14,547)	(15,656)	(19,266)	(40,088)	(20,551)	(28,421)	(23,559)	(21,118)	(53,274)	(19,371)	(18,397)	(17,035)	(50,774)	(23,795)	(14,402)	(12,179)
Income (loss) before income taxes and equity method investments	60,077)	82,342)	136,844)	181,493)	38,660)	182,799)	240,803)	232,241)	174,475)	169,069)	95,565)	117,302)	(4,635)	80,429)	60,816)	80,422)	47,515)	49,964)	27,645)	66,978)	36,566)	18,346)	19,367)	(2,279)	(5,283)
Income tax (expense) benefit	(16,585)	20,491)	(36,162)	(56,397)	163,426)	(34,434)	(54,391)	(3,009)	(41,724)	(37,988)	(49,154)	(18,879)	1,423)	(11,996)	(8,353)	(16,665)	(11,793)	(13,837)	(5,234)	(2,936)	(8,507)	(18,085)	(6,216)	(5,583)	1,913)
Income (loss) before equity method investments	43,492)	102,833)	100,682)	125,096)	202,086)	148,365)	186,412)	229,232)	132,751)	131,081)	46,411)	98,423)	(3,212)	68,433)	52,463)	63,757)	35,722)	36,127)	22,411)	64,042)	28,059)	261)	13,151)	(7,862)	(3,370)
Share of equity method investments losses	(1,602)	4,063)	(1,922)	(2,821)	(1,375)	(1,320)	(2,313)	(2,486)	(2,095)	(888)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net income (loss)	41,890)	106,896)	98,760)	122,275)	200,711)	147,045)	184,099)	226,746)	130,656)	130,193)	46,411)	98,423)	(3,212)	68,433)	52,463)	63,757)	35,722)	36,127)	22,411)	64,042)	28,059)	261)	13,151)	(7,862)	(3,370)

The financial data reveals multiple trends over the presented periods. Net revenues exhibit fluctuation with a general upward trend, peaking notably around the third quarter of 2021 at nearly 1,000,000 US$ in thousands before declining in subsequent quarters leading up to April 2023. Despite this peak, recent quarters denote a contraction in revenues.

Cost of goods sold (COGS) mirrors some of the revenue movement but remains more stable in its fluctuations. The cost structure suggests efficient management given that gross profit remains positive throughout. Gross profit shows variability but maintains an overall increase up to early 2022, peaking simultaneously with revenues, followed by a descending trend reflecting the downturn in revenues.

Selling, general and administrative expenses (SG&A) present a varied pattern with substantial increases at certain points, particularly conspicuous in the last three quarters of 2020 where expenses notably surged. Despite these spikes, SG&A expenses generally correlate with revenue fluctuations, indicating adjustments in operational expenditure relative to business scales.

Income from operations shows significant growth, particularly from early 2018 onwards, achieving notable highs in late 2021. This suggests improving operational efficiency or stronger revenue generation relative to operational costs during these periods. However, the decline in income from operations in recent quarters aligns with the reduction in revenues and gross profit.

Interest expense remains relatively consistent but shows some increases over the years, with a marked spike in early and mid-2022. This rising interest expense could indicate increased debt levels or higher borrowing costs affecting profitability.

Goodwill and tradename impairment are recorded intermittently, with significant impairments noted in early 2018 and again in mid-2020. These non-recurring charges negatively impact earnings, reflecting possible restructuring or reassessment of asset values during those periods.

The gain or loss on extinguishment of debt shows sporadic losses, with a substantial loss recorded in early 2022. This suggests the company engaged in debt restructuring activities involving costs that weighed on financial results.

Other expenses vary significantly, with occasional large negative impacts, notably in 2022, implying episodic costs that further pressure net income.

Income before income taxes displays a growth trend until early 2022, reaching peaks consistent with operational income improvements. Following this, it declines sharply, correlating with heightened interest and other expenses.

Income tax expense fluctuates broadly, at times showing benefits which may be due to tax credits or deferred tax adjustments. The variability affects net income volatility substantially.

Net income shows substantial volatility with losses at the start of the dataset and significant profitability gains peaking in late 2021. However, net income declines markedly after this peak into early 2023, reflecting combined pressures from declining revenues, rising expenses, and extraordinary charges.

Overall, the company experienced growth in revenues, gross profit, and operating income through 2021, accompanied by increased operational costs and financial expenses. Subsequent periods to early 2023 indicate a reversal with reduced revenues and profit metrics, potentially signaling challenges in market conditions, operational efficiency, or financial structure.

Net Revenues: Fluctuated with an upward trend until late 2021, followed by a noticeable decline.
Cost of Goods Sold: Relatively stable with expected correlation to revenue changes, supporting positive gross profit.
Gross Profit: Increased alongside revenues peaking in late 2021, then declined in recent quarters.
Selling, General and Administrative Expenses: Variable with pronounced spikes in late 2020 indicating increased operational spending.
Income from Operations: Rose significantly through 2021, then fell in line with revenue and profit decreases thereafter.
Interest Expense: Consistently negative with increases in 2022, contributing to lower profitability.
Goodwill and Tradename Impairment: Intermittent large impairments impacting earnings during 2018 and 2020.
Gain/Loss on Extinguishment of Debt: Negative impacts noted sporadically, with a substantial loss in early 2022.
Other Expenses: Variable with occasional large negative effects, especially during 2022.
Income Before Income Taxes: General upward trend until early 2022, followed by sharp decrease.
Income Tax Expense: Volatile with occasional benefits affecting net income variability.
Net Income: Highly variable; from losses at the start to peak profitability in late 2021, then declining into 2023.

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RH (NYSE:RH)

Income Statement Quarterly Data

Income Statement
Quarterly Data