<p>RH NYSE: RH 的股票在發佈第二季度財報後下跌超過 4%。然而，在財報發佈後，股票一度下跌 13%，這表明投資者可能認為財報後的拋售過度。作為高端家居用品、裝飾品、紡織品、照明和户外生活產品的奢侈零售商，RH 因多種原因備受關注。</p>
<p>首先，該公司的財報被視為奢侈消費市場狀況的廣泛概述。結果喜憂參半。899.20 百萬美元的收入比第一季度增長了 10%，同比增長 8.4%。然而，未能達到 905.36 百萬美元的預期。</p>
<p>RH 預計當前季度的收入增長將在 8% 到 10% 之間，全年增長將在 9% 到 11% 之間。全年預期較之前的 10% 到 13% 的全年收入增長有所下調。</p>
<p>RH 季度的另一個關鍵主題是盈利能力。公司報告的調整後營業利潤率為 18.3%，低於去年同期的 19.6%。管理層將利潤率壓縮主要歸因於更高的運輸成本和與新業務計劃相關的額外支出。</p>
<p>毛利率為 49.2%，而去年為 49.7%，反映出更高的促銷活動和關税的早期影響。</p>
<p>在底線方面，RH 報告的調整後淨收入為 1.47 億美元，或每股 7.78 美元，低於去年同期的 1.53 億美元，或每股 8.48 美元。儘管 <strong>盈利表現穩健</strong>，但下降反映了收入低於預期和費用壓力的綜合影響。</p>
<h2>關税繼續增加不確定性</h2>
<p>投資者還應關注公司關於關税的表述。RH 宣佈在下半年將承擔 3000 萬美元的額外關税成本。</p>
<p>然而，公司承認，由於特朗普政府提議對傢俱行業的新關税，這一數字並不明確。在制定定價策略時，公司還宣佈將 2025 年第三季度的 4000 萬美元收入轉移到第四季度或 2026 年第一季度。</p>
<h3><strong>為什麼 RH 股票可能會脱離低點</strong></h3>
<p>儘管面臨這些短期挑戰，RH 仍繼續強調其長期增長戰略。公司指出，RH 英國的推出是建立全球奢侈品牌的重要里程碑。</p>
<p>它還強調即將開設的 RH 巴黎、RH 米蘭和 RH 馬德里，這些將作為品牌定義的畫廊，提升歐洲的品牌認知度。在北美，RH 正在擴展，計劃在邁阿密、帕洛阿爾託和蒙特西託開設新的設計畫廊。</p>
<p><strong>資產負債表相對強勁</strong>。RH 在季度末的總債務為 24.8 億美元，現金為 12.6 億美元，使其在管理與關税相關的不確定性和執行畫廊擴展時具有靈活性。公司在本季度回購了 45 萬股，平均價格為 277 美元，反映出對其長期前景的信心。</p>
<p>管理層重申，儘管關税和收入時機的變化將在下半年對業績產生壓力，但 RH 對其銷售增長、保持行業領先的利潤率以及追求成為全球最受尊敬的奢侈品牌的願景充滿信心。</p>
<h2>RH 股票具有看漲傾向</h2>
<p>在財報發佈之前，RH 股票在大盤創下新高的日子裏下跌。該股在約 230 美元的 50 日簡單移動平均線附近整合。相對強弱指數（RSI）約為 42，表明動能傾向於看跌，但尚未超賣，留有潛在反彈的空間。</p>
<p>自 7 月以來，該股一直在橫盤整理，形成 220 美元以上的支撐基礎，這表明買家在較低水平上介入。這一行動，加上該股保持在 50 日移動平均線上的能力，確實為 <strong>謹慎看漲的傾向</strong> 增添了一些可信度。</p>
<p>關鍵支撐位似乎在 222 美元附近，該股在過去兩個月多次測試並反彈。如果該水平被突破，下一個下行支撐位在 210 美元左右，與 6 月的整合區間相吻合。</p>
<p>在上行方面，立即阻力位在 240 美元附近，隨後是 250 美元附近的更重要的阻力位，該股多次未能突破該水平。突破該水平可能會觸發進一步的上行動能，特別是如果伴隨成交量改善。</p>
<p>總體而言，RH 似乎處於整合階段，只要保持在 220–222 美元的支撐區間，就略顯看漲。如果突破 240–250 美元的水平，將確認更強的看漲趨勢，或許達到 273.47 美元的共識價格目標，而如果未能保持 222 美元，則可能將傾向轉回看跌。</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>你現在應該投資 1000 美元在 RH 嗎？</h2>
<p>在考慮 RH 之前，你需要聽聽這個。</p>
<p>MarketBeat 每天跟蹤華爾街頂級評級和表現最佳的研究分析師及其推薦給客户的股票。MarketBeat 已識別出五隻股票，頂級分析師正在悄悄地向客户推薦現在購買，以便在大盤跟風之前...而 RH 並不在名單上。</p>
<p>雖然 RH 目前在分析師中被評為持有，但頂級分析師認為這五隻股票更值得購買。</p>
<p>查看這五隻股票</p>

<p>RH 股票在第二季度財報發佈後下跌超過 4%，營收為 8.992 億美元，未能達到市場預期。公司預計第三季度營收增長為 8-10%，全年增長為 9-11%，低於之前的預期。由於成本和關税上升，調整後的營業利潤率降至 18.3%，預計關税影響為 3000 萬美元。儘管面臨挑戰，RH 仍強調長期增長，計劃新畫廊的開設，並保持強勁的資產負債表。該股票顯示出謹慎的看漲傾向，價格在 230 美元附近整理，關鍵支撐位在 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 的股票在發佈第二季度財報後下跌超過 4%。然而，在財報發佈後，股票一度下跌 13%，這表明投資者可能認為財報後的拋售過度。作為高端家居用品、裝飾品、紡織品、照明和户外生活產品的奢侈零售商，RH 因多種原因備受關注。</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，該公司的財報被視為奢侈消費市場狀況的廣泛概述。結果喜憂參半。899.20 百萬美元的收入比第一季度增長了 10%，同比增長 8.4%。然而，未能達到 905.36 百萬美元的預期。</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 預計當前季度的收入增長將在 8% 到 10% 之間，全年增長將在 9% 到 11% 之間。全年預期較之前的 10% 到 13% 的全年收入增長有所下調。</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 季度的另一個關鍵主題是盈利能力。公司報告的調整後營業利潤率為 18.3%，低於去年同期的 19.6%。管理層將利潤率壓縮主要歸因於更高的運輸成本和與新業務計劃相關的額外支出。</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>毛利率為 49.2%，而去年為 49.7%，反映出更高的促銷活動和關税的早期影響。</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>在底線方面，RH 報告的調整後淨收入為 1.47 億美元，或每股 7.78 美元，低於去年同期的 1.53 億美元，或每股 8.48 美元。儘管 <strong>盈利表現穩健</strong>，但下降反映了收入低於預期和費用壓力的綜合影響。</p>
</div><h2>Tariffs Continue to Add Uncertainty</h2>
<div class="lb-trans"><h2>關税繼續增加不確定性</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>投資者還應關注公司關於關税的表述。RH 宣佈在下半年將承擔 3000 萬美元的額外關税成本。</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，公司承認，由於特朗普政府提議對傢俱行業的新關税，這一數字並不明確。在制定定價策略時，公司還宣佈將 2025 年第三季度的 4000 萬美元收入轉移到第四季度或 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>為什麼 RH 股票可能會脱離低點</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>儘管面臨這些短期挑戰，RH 仍繼續強調其長期增長戰略。公司指出，RH 英國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>它還強調即將開設的 RH 巴黎、RH 米蘭和 RH 馬德里，這些將作為品牌定義的畫廊，提升歐洲的品牌認知度。在北美，RH 正在擴展，計劃在邁阿密、帕洛阿爾託和蒙特西託開設新的設計畫廊。</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>資產負債表相對強勁</strong>。RH 在季度末的總債務為 24.8 億美元，現金為 12.6 億美元，使其在管理與關税相關的不確定性和執行畫廊擴展時具有靈活性。公司在本季度回購了 45 萬股，平均價格為 277 美元，反映出對其長期前景的信心。</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>管理層重申，儘管關税和收入時機的變化將在下半年對業績產生壓力，但 RH 對其銷售增長、保持行業領先的利潤率以及追求成為全球最受尊敬的奢侈品牌的願景充滿信心。</p>
</div><h2>RH Stock Has a Bullish Bias</h2>
<div class="lb-trans"><h2>RH 股票具有看漲傾向</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>在財報發佈之前，RH 股票在大盤創下新高的日子裏下跌。該股在約 230 美元的 50 日簡單移動平均線附近整合。相對強弱指數（RSI）約為 42，表明動能傾向於看跌，但尚未超賣，留有潛在反彈的空間。</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 月以來，該股一直在橫盤整理，形成 220 美元以上的支撐基礎，這表明買家在較低水平上介入。這一行動，加上該股保持在 50 日移動平均線上的能力，確實為 <strong>謹慎看漲的傾向</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>關鍵支撐位似乎在 222 美元附近，該股在過去兩個月多次測試並反彈。如果該水平被突破，下一個下行支撐位在 210 美元左右，與 6 月的整合區間相吻合。</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，隨後是 250 美元附近的更重要的阻力位，該股多次未能突破該水平。突破該水平可能會觸發進一步的上行動能，特別是如果伴隨成交量改善。</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>總體而言，RH 似乎處於整合階段，只要保持在 220–222 美元的支撐區間，就略顯看漲。如果突破 240–250 美元的水平，將確認更強的看漲趨勢，或許達到 273.47 美元的共識價格目標，而如果未能保持 222 美元，則可能將傾向轉回看跌。</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>你現在應該投資 1000 美元在 RH 嗎？</h2>
</div><p>Before you consider RH, you'll want to hear this.</p>
<div class="lb-trans"><p>在考慮 RH 之前，你需要聽聽這個。</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 每天跟蹤華爾街頂級評級和表現最佳的研究分析師及其推薦給客户的股票。MarketBeat 已識別出五隻股票，頂級分析師正在悄悄地向客户推薦現在購買，以便在大盤跟風之前...而 RH 並不在名單上。</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>雖然 RH 目前在分析師中被評為持有，但頂級分析師認為這五隻股票更值得購買。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>查看這五隻股票</p>
</div>

由於收益表現不佳和關税問題，RH 的股票出現下滑