<p>RH NYSE: RH 的股票在发布第二季度财报后下跌超过 4%。然而，在财报发布后，股票一度下跌 13%，这表明投资者可能认为财报后的抛售过度。作为高端家居用品、装饰品、纺织品、照明和户外生活产品的奢侈零售商，RH 因多种原因备受关注。</p>
<p>首先，该公司的财报被视为奢侈消费市场状况的广泛概述。结果喜忧参半。899.20 百万美元的收入比第一季度增长了 10%，同比增长 8.4%。然而，未能达到 905.36 百万美元的预期。</p>
<p>RH 预计当前季度的收入增长将在 8% 到 10% 之间，全年增长将在 9% 到 11% 之间。全年预期较之前的 10% 到 13% 的全年收入增长有所下调。</p>
<p>RH 季度的另一个关键主题是盈利能力。公司报告的调整后营业利润率为 18.3%，低于去年同期的 19.6%。管理层将利润率压缩主要归因于更高的运输成本和与新业务计划相关的额外支出。</p>
<p>毛利率为 49.2%，而去年为 49.7%，反映出更高的促销活动和关税的早期影响。</p>
<p>在底线方面，RH 报告的调整后净收入为 1.47 亿美元，或每股 7.78 美元，低于去年同期的 1.53 亿美元，或每股 8.48 美元。尽管 <strong>盈利表现稳健</strong>，但下降反映了收入低于预期和费用压力的综合影响。</p>
<h2>关税继续增加不确定性</h2>
<p>投资者还应关注公司关于关税的表述。RH 宣布在下半年将承担 3000 万美元的额外关税成本。</p>
<p>然而，公司承认，由于特朗普政府提议对家具行业的新关税，这一数字并不明确。在制定定价策略时，公司还宣布将 2025 年第三季度的 4000 万美元收入转移到第四季度或 2026 年第一季度。</p>
<h3><strong>为什么 RH 股票可能会脱离低点</strong></h3>
<p>尽管面临这些短期挑战，RH 仍继续强调其长期增长战略。公司指出，RH 英国的推出是建立全球奢侈品牌的重要里程碑。</p>
<p>它还强调即将开设的 RH 巴黎、RH 米兰和 RH 马德里，这些将作为品牌定义的画廊，提升欧洲的品牌认知度。在北美，RH 正在扩展，计划在迈阿密、帕洛阿尔托和蒙特西托开设新的设计画廊。</p>
<p><strong>资产负债表相对强劲</strong>。RH 在季度末的总债务为 24.8 亿美元，现金为 12.6 亿美元，使其在管理与关税相关的不确定性和执行画廊扩展时具有灵活性。公司在本季度回购了 45 万股，平均价格为 277 美元，反映出对其长期前景的信心。</p>
<p>管理层重申，尽管关税和收入时机的变化将在下半年对业绩产生压力，但 RH 对其销售增长、保持行业领先的利润率以及追求成为全球最受尊敬的奢侈品牌的愿景充满信心。</p>
<h2>RH 股票具有看涨倾向</h2>
<p>在财报发布之前，RH 股票在大盘创下新高的日子里下跌。该股在约 230 美元的 50 日简单移动平均线附近整合。相对强弱指数（RSI）约为 42，表明动能倾向于看跌，但尚未超卖，留有潜在反弹的空间。</p>
<p>自 7 月以来，该股一直在横盘整理，形成 220 美元以上的支撑基础，这表明买家在较低水平上介入。这一行动，加上该股保持在 50 日移动平均线上的能力，确实为 <strong>谨慎看涨的倾向</strong> 增添了一些可信度。</p>
<p>关键支撑位似乎在 222 美元附近，该股在过去两个月多次测试并反弹。如果该水平被突破，下一个下行支撑位在 210 美元左右，与 6 月的整合区间相吻合。</p>
<p>在上行方面，立即阻力位在 240 美元附近，随后是 250 美元附近的更重要的阻力位，该股多次未能突破该水平。突破该水平可能会触发进一步的上行动能，特别是如果伴随成交量改善。</p>
<p>总体而言，RH 似乎处于整合阶段，只要保持在 220–222 美元的支撑区间，就略显看涨。如果突破 240–250 美元的水平，将确认更强的看涨趋势，或许达到 273.47 美元的共识价格目标，而如果未能保持 222 美元，则可能将倾向转回看跌。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/articles/med_20250911173138_rh911.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/articles/med_20250911173138_rh911.png"/></p>
<h2>你现在应该投资 1000 美元在 RH 吗？</h2>
<p>在考虑 RH 之前，你需要听听这个。</p>
<p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只股票，顶级分析师正在悄悄地向客户推荐现在购买，以便在大盘跟风之前...而 RH 并不在名单上。</p>
<p>虽然 RH 目前在分析师中被评为持有，但顶级分析师认为这五只股票更值得购买。</p>
<p>查看这五只股票</p>

<p>RH 股票在第二季度财报发布后下跌超过 4%，营收为 8.992 亿美元，未能达到市场预期。公司预计第三季度营收增长为 8-10%，全年增长为 9-11%，低于之前的预期。由于成本和关税上升，调整后的营业利润率降至 18.3%，预计关税影响为 3000 万美元。尽管面临挑战，RH 仍强调长期增长，计划新画廊的开设，并保持强劲的资产负债表。该股票显示出谨慎的看涨倾向，价格在 230 美元附近整理，关键支撑位在 222 美元，阻力位在 240 美元左右</p>

<p>RH NYSE: RH stock is down more than 4% after delivering its second-quarter earnings report. However, immediately after the report, the stock was down 13%, which suggests that investors may believe the post-report sell-off was overdone. The luxury retailer in high-end home furnishings, decor, textiles, lighting and outdoor living products was in the spotlight for several reasons.</p>
<div class="lb-trans"><p>RH NYSE: RH 的股票在发布第二季度财报后下跌超过 4%。然而，在财报发布后，股票一度下跌 13%，这表明投资者可能认为财报后的抛售过度。作为高端家居用品、装饰品、纺织品、照明和户外生活产品的奢侈零售商，RH 因多种原因备受关注。</p>
</div><p>First, the company’s report is seen as a broad overview of the state of the luxury consumer. The results were mixed. Revenue of $899.20 million was up 10% from the first quarter and 8.4% year-over-year (YOY). However, it missed expectations for $905.36 million.</p>
<div class="lb-trans"><p>首先，该公司的财报被视为奢侈消费市场状况的广泛概述。结果喜忧参半。899.20 百万美元的收入比第一季度增长了 10%，同比增长 8.4%。然而，未能达到 905.36 百万美元的预期。</p>
</div><p>RH anticipates revenue growth between 8% to 10% in the current quarter and 9% to 11% growth for the full year. The full-year estimate was down from the prior estimate of 10% to 13% full-year revenue growth.</p>
<div class="lb-trans"><p>RH 预计当前季度的收入增长将在 8% 到 10% 之间，全年增长将在 9% 到 11% 之间。全年预期较之前的 10% 到 13% 的全年收入增长有所下调。</p>
</div><p>Another key theme in RH’s quarter was profitability. The company reported an adjusted operating margin of 18.3%, down from 19.6% in the same quarter a year ago. Management attributed the margin compression largely to higher freight costs and incremental expenses tied to its new business initiatives.</p>
<div class="lb-trans"><p>RH 季度的另一个关键主题是盈利能力。公司报告的调整后营业利润率为 18.3%，低于去年同期的 19.6%。管理层将利润率压缩主要归因于更高的运输成本和与新业务计划相关的额外支出。</p>
</div><p>Gross margin was 49.2%, compared with 49.7% last year, reflecting the impact of higher promotional activity and the early effects of tariffs.</p>
<div class="lb-trans"><p>毛利率为 49.2%，而去年为 49.7%，反映出更高的促销活动和关税的早期影响。</p>
</div><p>On the bottom line, RH delivered adjusted net income of $147 million, or $7.78 per share, down from $153 million, or $8.48 per share, in the prior-year period. While <strong>earnings were solidly profitable</strong>, the dip reflected the combined effect of softer-than-expected revenue and expense pressure.</p>
<div class="lb-trans"><p>在底线方面，RH 报告的调整后净收入为 1.47 亿美元，或每股 7.78 美元，低于去年同期的 1.53 亿美元，或每股 8.48 美元。尽管 <strong>盈利表现稳健</strong>，但下降反映了收入低于预期和费用压力的综合影响。</p>
</div><h2>Tariffs Continue to Add Uncertainty</h2>
<div class="lb-trans"><h2>关税继续增加不确定性</h2>
</div><p>Investors should also pay attention to what the company said about tariffs. RH announced it would incur a $30 million cost of incremental tariffs in the second half of the year.</p>
<div class="lb-trans"><p>投资者还应关注公司关于关税的表述。RH 宣布在下半年将承担 3000 万美元的额外关税成本。</p>
</div><p>However, the company admitted that the number is murky because of the new tariffs on the furniture industry proposed by the Trump administration. As it works on its pricing strategy, the company also announced a $40 million revenue shift from Q3 2025 to Q4 or into the first quarter of 2026.</p>
<div class="lb-trans"><p>然而，公司承认，由于特朗普政府提议对家具行业的新关税，这一数字并不明确。在制定定价策略时，公司还宣布将 2025 年第三季度的 4000 万美元收入转移到第四季度或 2026 年第一季度。</p>
</div><h3><strong>Why RH Stock Might Be Off the Lows</strong></h3>
<div class="lb-trans"><h3><strong>为什么 RH 股票可能会脱离低点</strong></h3>
</div><p>Despite those near-term challenges, RH continues to emphasize its long-term growth strategy. The company pointed to the rollout of RH England as an important milestone in building a global luxury brand.</p>
<div class="lb-trans"><p>尽管面临这些短期挑战，RH 仍继续强调其长期增长战略。公司指出，RH 英国的推出是建立全球奢侈品牌的重要里程碑。</p>
</div><p>It also highlighted the upcoming openings of RH Paris, RH Milan, and RH Madrid, which it believes will serve as brand-defining galleries that elevate European awareness. In North America, RH is expanding with new design galleries slated to open in Miami, Palo Alto, and Montecito.</p>
<div class="lb-trans"><p>它还强调即将开设的 RH 巴黎、RH 米兰和 RH 马德里，这些将作为品牌定义的画廊，提升欧洲的品牌认知度。在北美，RH 正在扩展，计划在迈阿密、帕洛阿尔托和蒙特西托开设新的设计画廊。</p>
</div><p>The <strong>balance sheet remains relatively strong</strong>. RH ended the quarter with $2.48 billion in total debt and $1.26 billion in cash, giving it flexibility as it manages tariff-related uncertainty and executes its gallery expansion. The company repurchased 450,000 shares during the quarter at an average price of $277, reflecting confidence in its long-term outlook.</p>
<div class="lb-trans"><p><strong>资产负债表相对强劲</strong>。RH 在季度末的总债务为 24.8 亿美元，现金为 12.6 亿美元，使其在管理与关税相关的不确定性和执行画廊扩展时具有灵活性。公司在本季度回购了 45 万股，平均价格为 277 美元，反映出对其长期前景的信心。</p>
</div><p>Management reiterated that while tariffs and shifting revenue timing will weigh on results in the second half, RH remains confident in its ability to grow sales, maintain industry-leading margins, and pursue its vision of becoming one of the most admired luxury brands in the world.</p>
<div class="lb-trans"><p>管理层重申，尽管关税和收入时机的变化将在下半年对业绩产生压力，但 RH 对其销售增长、保持行业领先的利润率以及追求成为全球最受尊敬的奢侈品牌的愿景充满信心。</p>
</div><h2>RH Stock Has a Bullish Bias</h2>
<div class="lb-trans"><h2>RH 股票具有看涨倾向</h2>
</div><p>Before the earnings report, RH stock was down on a day when the broader market raced to new highs. The stock is consolidating near its 50-day simple moving average (SMA) around $230. The RSI reading around 42 suggests that momentum is leaning toward the bearish side but not yet oversold, leaving room for a potential rebound.</p>
<div class="lb-trans"><p>在财报发布之前，RH 股票在大盘创下新高的日子里下跌。该股在约 230 美元的 50 日简单移动平均线附近整合。相对强弱指数（RSI）约为 42，表明动能倾向于看跌，但尚未超卖，留有潜在反弹的空间。</p>
</div><p>The stock has been grinding sideways since July, forming a base above $220, which indicates that buyers are stepping in at lower levels. This action, combined with the stock’s ability to hold the 50-day SMA, does lend some credibility to a <strong>cautiously bullish bias</strong>.</p>
<div class="lb-trans"><p>自 7 月以来，该股一直在横盘整理，形成 220 美元以上的支撑基础，这表明买家在较低水平上介入。这一行动，加上该股保持在 50 日移动平均线上的能力，确实为 <strong>谨慎看涨的倾向</strong> 增添了一些可信度。</p>
</div><p>Key support appears to be near $222, where the stock has tested and bounced multiple times over the last two months. If that level breaks, the next downside support comes in around $210, which coincides with the June consolidation zone.</p>
<div class="lb-trans"><p>关键支撑位似乎在 222 美元附近，该股在过去两个月多次测试并反弹。如果该水平被突破，下一个下行支撑位在 210 美元左右，与 6 月的整合区间相吻合。</p>
</div><p>On the upside, immediate resistance sits around $240, followed by a more significant ceiling near $250, where the stock has repeatedly failed to break out. A move through that level could trigger further upside momentum, especially if accompanied by improving volume.</p>
<div class="lb-trans"><p>在上行方面，立即阻力位在 240 美元附近，随后是 250 美元附近的更重要的阻力位，该股多次未能突破该水平。突破该水平可能会触发进一步的上行动能，特别是如果伴随成交量改善。</p>
</div><p>Overall, RH looks to be in a consolidation phase with a slight bullish tilt as long as it holds the $220–$222 support area. A decisive break above $240–$250 would confirm a stronger bullish trend, perhaps to the consensus price target of $273.47, while a failure to hold $222 could shift the bias back to bearish.</p>
<div class="lb-trans"><p>总体而言，RH 似乎处于整合阶段，只要保持在 220–222 美元的支撑区间，就略显看涨。如果突破 240–250 美元的水平，将确认更强的看涨趋势，或许达到 273.47 美元的共识价格目标，而如果未能保持 222 美元，则可能将倾向转回看跌。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/articles/med_20250911173138_rh911.png" alt="" original-src="https://www.marketbeat.com/logos/articles/med_20250911173138_rh911.png"/></p>
<h2>Should You Invest $1,000 in RH Right Now?</h2>
<div class="lb-trans"><h2>你现在应该投资 1000 美元在 RH 吗？</h2>
</div><p>Before you consider RH, you'll want to hear this.</p>
<div class="lb-trans"><p>在考虑 RH 之前，你需要听听这个。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RH wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只股票，顶级分析师正在悄悄地向客户推荐现在购买，以便在大盘跟风之前...而 RH 并不在名单上。</p>
</div><p>While RH currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>虽然 RH 目前在分析师中被评为持有，但顶级分析师认为这五只股票更值得购买。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>查看这五只股票</p>
</div>

由于收益表现不佳和关税问题，RH 的股票出现下滑