RH Q3 revenue $812M (+8.1%), GAAP net income $33M; raises Q4 guidance on accelerating demand

2024-Q3 EPS reported $2.93 revenue$2,368,347,000

GAAP net revenues $812M (+8.1% YoY); GAAP net income $33M; adjusted net income $49M.
Adjusted operating margin 15.0% (vs 7.3% last year); adjusted EBITDA margin 20.8% (vs 12.4%).
Q3 total demand +13%, RH brand demand +14%; November demand accelerated to +18% total, +24% RH brand.
Q4 guidance raised: demand growth 20-22%, revenue growth 18-20%; FY demand growth 9.9-10.4%.
Proactively exiting China sourcing by Q2 2025; no material tariff impact expected.

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