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Stocks of luxury furniture retailer RH plummeted 40% on Thursday to wipe out the disappointing revenue outcomes and new tariffs.
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The Trump administration announced steep tariffs on RH and other furniture retailers on Wednesday.
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Other furniture stocks continued below RH amid a wide decline. Wayfair shares lost about a quarter of its value on Thursday, with La-Z-Boy down nearly 9%.
RH stock (rh) I stuck it in my heel on Thursday Disappointing revenue results and Mutual Tariffs It was announced by the Trump administration.
Stocks of luxury furniture retailers fell 40% in Thursday’s session the day after the company issued a weaker outlook than expected, with President Trump unveiling tariffs For China RH sauce from other Asian countries.
With the decline in RH’s stock price, CEO Gary Friedman caught his eye on the company’s revenue call. “Ahh,” Friedman said by the transcription provided by Alphasense. “I just looked at the screen.”
Friedman said “That’s not a secret,” stressing that RH sourced products from Asia, but the company is not alone. “Everyone of the size of a home business has a high percentage of content coming out of Asia,” he said.
Other furniture stocks continued below RH amid a wide decline. Way Fair (w) stocks that lost about a quarter of their value on Thursday, and La-Z-Boy (LZB) It was dropped to nearly 9%. (read Investopedia’s Live coverage today Market behavior here. )
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