Restoration Hardware expects to raise as much as $150 million through the sale of stock according to Bloomberg Businessweek.
The company plans to open more stores (beyond the nearly 100 existing stores in the U.S. and Canada) and expand the existing locations to drive sales. Management also plans to enhance online and direct mail marketing including the 616-page Source Book/Magalog/Catalog the company recently launched.
Restoration Hardware lost money overall in fiscal 2009 and 2010, but results are improving by some measures. In the second quarter of this year, revenue climbed 19 percent to $236 million and net income climbed 53 percent to $7.5 million.
The company said it would use the money raised from investors to pay down debt and for general corporate purposes. It didn't say when it expects to go public, Bloomberg reported.
News categoriesAll News >
This Swedish designer’s concept might be the next IKEA
Everything you wanted to know about lighting can be found here
What not to miss at the D&D’s ‘Al Fresco’ Spring Market
Design ADAC explores "The Innovation of Expression"Trade Shows | 4:59Design ADAC explores "The...
Meet ADAC's designers and architect of the yearTrade Shows | 3:54Meet ADAC's designers and...
Fort Lauderdale Home Design and Remodeling ShowTrade Show
ARF Designer Show House & Sale
D&D Building's Spring MarketDesign Center Event
- In Print