RH is a luxury home furnishings company whose fiscal 2024 results combine a $3.181 billion consolidated business, 83 retail locations, approximately 265,000 members, and about 6,340 team members. These RH statistics cover fiscal years ending February 1, 2025, February 3, 2024, and January 28, 2023, plus management’s April 2, 2025 outlook; fiscal years are labeled by RH’s fiscal year-end dates.
Key RH Statistics
The most useful headline RH statistics span scale, profitability, retail presence, participation, and outlook:
- In the fiscal year ended February 1, 2025, RH reported $3.181 billion in consolidated net revenue across its worldwide business.
- In fiscal 2024, consolidated net revenue increased 5.0% year over year on a reported basis for RH.
- On a comparable 52-week basis, fiscal-2024 net revenue increased 6.8% versus comparable fiscal 2023 for RH consolidated.
- Fiscal 2024 included approximately $50 million of revenue from fiscal 2023’s 53rd week for RH consolidated.
- On a comparable 52-week basis, fiscal-2024 total demand increased 9% for the RH business.
- On a comparable 52-week basis, fiscal-2024 RH Brand demand increased 12%.
- In the fourth quarter of fiscal 2024, RH reported $812 million in net revenue for its consolidated business.
- In fiscal 2024, RH reported $1.415 billion in gross profit and a 44.5% gross margin.
- In fiscal 2024, RH reported $322.6 million in GAAP operating income, equal to a 10.1% operating margin.
- In fiscal 2024, RH reported $72.4 million in GAAP net income.
- In fiscal 2024, the RH segment generated $2.988 billion in net revenue, while Waterworks generated $192.9 million.
- At February 1, 2025, RH had 83 total retail locations worldwide, including RH locations and Waterworks showrooms.
- At February 1, 2025, approximately 265,000 members were enrolled in the RH Members Program.
- During fiscal 2024, RH members drove approximately 98% of core RH sales, excluding specified channels.
- At February 1, 2025, RH had approximately 6,340 total team members worldwide.
- RH cited 4.06 million U.S. existing-home sales in calendar 2024 as housing-market context.
- RH forecast fiscal-2025 revenue growth of 10% to 13% in its April 2, 2025 outlook.
- RH forecast a fiscal-2025 adjusted operating margin of 14% to 15% in that management outlook.
Contents
- Revenue scale and comparable-week trends
- Profitability, margins, and earnings
- RH and Waterworks segment data
- Galleries, retail footprint, and international expansion
- Membership, demand, and team composition
- Housing-market context and forward outlook
RH Revenue Statistics: Scale, Growth, and Comparable-Week Trends
RH’s reported consolidated net revenue was $3.181 billion for the fiscal year ended February 1, 2025. The comparable figures below show why the company distinguishes reported growth from a 52-week comparison: fiscal 2023 contained an extra week.
| Fiscal period | Consolidated net revenue | Definition or limitation |
|---|---|---|
| Fiscal 2024, year ended February 1, 2025 | $3.181 billion | GAAP revenue |
| Fiscal 2023, year ended February 3, 2024 | $3.029 billion | GAAP revenue; 53 weeks |
| Fiscal 2022, year ended January 28, 2023 | $3.590 billion | GAAP revenue |
| Comparable fiscal 2023 | Approximately $2.979 billion | Company-adjusted 52-week comparison |
Source: RH Fiscal 2024 Annual Report and RH Fourth Quarter and Fiscal Year 2024 Financial Results and Shareholder Letter.
On a reported basis, fiscal-2024 net revenue increased 5.0% versus fiscal 2023. On RH’s comparable 52-week basis, the increase was 6.8%, while the company estimated that the extra fiscal-2023 week contributed approximately $50 million of revenue; comparable fiscal-2023 revenue was therefore approximately $2.979 billion under the company’s adjustment.
Demand was stronger than the reported revenue comparison: fiscal-2024 total demand increased 9% on a comparable 52-week basis, and RH Brand demand increased 12% on the same basis. These are company-defined operating measures, not GAAP revenue.
The fourth quarter of fiscal 2024 produced $812 million of net revenue, up 18% on a comparable 13-week basis. The comparable-week figures are intended to remove the extra week in fiscal 2023 and should not be presented as unadjusted GAAP results.
RH Profitability Statistics: Margins, Net Income, and Interest Expense
RH’s fiscal-2024 gross profit was $1.415 billion, with a GAAP gross margin of 44.5%. The reported margin was lower than the 45.9% recorded in fiscal 2023 and the 50.5% recorded in fiscal 2022.
| Fiscal year | Gross margin | Operating margin | GAAP net income |
|---|---|---|---|
| Fiscal 2024, ended February 1, 2025 | 44.5% | 10.1% | $72.4 million |
| Fiscal 2023, ended February 3, 2024 | 45.9% | 12.1% | $127.6 million |
| Fiscal 2022, ended January 28, 2023 | 50.5% | 20.1% | $528.6 million |
Source: RH Fiscal 2024 Annual Report. Fiscal-2022 net income includes unusual items disclosed by RH.
Fiscal-2024 GAAP operating income was $322.6 million, equal to a 10.1% operating margin. Fiscal-2023 operating income had a 12.1% margin, while fiscal 2022 had a 20.1% margin.
RH also reported adjusted operating income of $358.2 million in fiscal 2024, compared with $393.8 million in fiscal 2023 and $789.8 million in fiscal 2022. These are non-GAAP measures, and RH notes that similarly titled measures may not be comparable across companies.
Adjusted net income was $107.2 million in fiscal 2024 and $147.4 million in fiscal 2023. GAAP interest expense, net, was $230.6 million in fiscal 2024, compared with $198.3 million in fiscal 2023.
RH and Waterworks Segment Statistics
RH reports its operations through the RH segment and Waterworks. The RH segment remained much larger by revenue in each supplied fiscal period, while Waterworks revenue was comparatively stable across the three years.
| Segment and fiscal year | Fiscal 2024 | Fiscal 2023 | Fiscal 2022 |
|---|---|---|---|
| RH segment revenue | $2.988 billion | $2.836 billion | $3.399 billion |
| Waterworks revenue | $192.9 million | $193.5 million | $191.8 million |
Source: RH Fiscal 2024 Annual Report. Segment revenue is reported for the fiscal years ended February 1, 2025, February 3, 2024, and January 28, 2023.
In fiscal 2024, RH segment adjusted operating income was $336.2 million, while Waterworks adjusted operating income was $22.0 million. These segment figures are non-GAAP measures.
Segment advertising expense was $119.2 million for RH and $3.2 million for Waterworks in fiscal 2024. Advertising expense is a segment expense measure, not a direct measure of customer acquisition efficiency or return on advertising spend.
RH Retail Footprint Statistics: Galleries, Showrooms, and Selling Area
At February 1, 2025, RH had 83 total retail locations worldwide, including RH locations and Waterworks showrooms. The network included 69 RH-branded retail locations and 14 Waterworks showrooms.
| Location category at February 1, 2025 | Locations | Geography |
|---|---|---|
| RH Design Galleries | 33 | North America |
| RH Legacy Galleries | 27 | North America |
| Baby & Child and TEEN Galleries | 2 | North America |
| RH Design Galleries | 5 | Europe |
| Waterworks showrooms | 14 | Worldwide network |
Source: RH Fiscal 2024 Annual Report. The categories are RH’s company location classifications.
The average selling area of a North American RH Design Gallery was 34,100 square feet at that date. The comparable European average was 23,400 square feet.
These selling-area figures exclude backrooms, offices, food-preparation and kitchen space, certain exterior areas, and other non-selling spaces identified by RH. They therefore describe average selling area rather than total real-estate footprint.
RH Membership, Demand, and Workforce Statistics
RH’s membership program is closely connected with core RH sales. Members drove approximately 98% of core RH sales during fiscal 2024, although the company excludes channels such as Outlet, Trade, Contract, and Hospitality, along with other specified exclusions.
At fiscal-2024 year-end, February 1, 2025, RH had approximately 265,000 members. The membership count is approximate, and RH’s program exclusions mean it should not be read as a count of every customer or buyer connected with the wider company.
RH reported approximately 6,340 total team members worldwide at the same date. The workforce categories below are approximate and may overlap where a person belongs to both an operating-area category and the part-time category.
- Retail and Outlet team members: approximately 2,290 people worldwide at February 1, 2025.
- Hospitality team members: approximately 1,880 people worldwide at February 1, 2025.
- Part-time team members: approximately 650 people worldwide at February 1, 2025.
Source: RH Fiscal 2024 Annual Report. Membership and headcount figures are approximate; membership excludes Outlet, Trade, Contract, Hospitality, and direct Waterworks purchases as described by RH.
RH Housing-Market Context and Fiscal Outlook
RH framed its demand environment with U.S. housing statistics rather than treating them as RH operating outcomes. The company cited 4.06 million existing-home sales in 2024, compared with 4.09 million in 1978, while the cited U.S. population was 341 million in 2024 versus 223 million in 1978.
| Context measure | 1978 | 2024 | Scope |
|---|---|---|---|
| Existing-home sales | 4.09 million | 4.06 million | United States |
| Population cited by RH | 223 million | 341 million | United States |
Source: RH Fourth Quarter and Fiscal Year 2024 Financial Results and Shareholder Letter. This is company-cited housing-market context; the years have different populations and market structures.
In its April 2, 2025 management outlook, RH forecast fiscal-2025 consolidated revenue growth of 10% to 13%. It forecast a fiscal-2025 adjusted operating margin of 14% to 15% and an adjusted EBITDA margin of 20% to 21%.
For the first quarter of fiscal 2025, RH forecast revenue growth of 12.5% to 13.5% and an adjusted operating margin of 6.5% to 7.0%. The company estimated that international-expansion investments and startup costs would reduce first-quarter operating margin by 160 to 200 basis points.
These fiscal-2025 figures are management forecasts issued April 2, 2025, not observed outcomes. They remain subject to macroeconomic and execution risk, and adjusted margins are non-GAAP outlook measures.