Tiger Global initiates a position in Restoration Hardware Holding
Tiger Global and Restoration Hardware Holding
Tiger Global started new positions in Restoration Hardware Holding (RH), Vipshop Holdings Ltd (VIPS), Gap Inc. (GPS), sold UTi Worldwide (UTIW), and increased its stakes in Priceline (PCLN) and TransDigm Group Incorporated (TDG).
Tiger Global initiated a 1.52% new position in Restoration Hardware Holding (RH), a luxury retailer in the home furnishings marketplace.
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Although the company’s 3Q results beat street expectations, shares fell after the company announced co-CEO Carlos Alberini’s resignation to become the chairman and CEO of Lucky Brand. Net revenues for the third quarter of fiscal 2013 increased 39% to $395.8 million from $284.2 million for the third quarter of fiscal 2012. Comparable store sales increased 29% for the third quarter of fiscal 2013. Adjusted diluted EPS increased 357% to $0.32 for the third quarter of fiscal 2013 from $0.07 for the third quarter of fiscal 2012. For the fourth quarter, the company expects net revenues in the range of $490 million to $500 million and the adjusted diluted EPS to range from $0.82 to $0.85.