04:34 PM EDT, 03/27/2024 (MT Newswires) -- RH (RH) late Wednesday reported Q4 adjusted net income of $0.72 per diluted share, down from $2.88 a year earlier.

Analysts polled by Capital IQ expected $1.71.

Net revenue for the quarter ended Feb. 3 was $738.3 million, down from $772.5 million a year earlier.

Analysts expected $777.8 million.

For Q1, the retailer is projecting a decline in revenue in the low single-percentage digits from year-ago levels. For fiscal 2024, it expects a year-over-year increase in revenue of $8% to 10%.

Analysts are looking for $760.6 million and $3.26 billion in Q1 and full-year revenue, respectively.

Shares were nearly 7% higher in after-hours activity.

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