RH (NYSE:RH) Q4 2022 Earnings Call Transcript

Gary Friedman: Yes. It’s open, we are happy about it. We have had great. It’s created the right kind of conversation around the brand. And that’s what we are trying to do. And second one is under construction and Aspen. And this is first, the only two we have got the pipeline and so, nothing really new were open functioning running. All good except we had it firstly, so we had to shut down some rooms for a little while. But stuff there are new business, you think different things go wrong, and you learn about. But I think we are tremendously proud of it, that we have been everybody who stayed there, I believe is that a great experience, that is tremendous experience, friends feedback, I think we are in the right conversation is happening about the guest house today.

And by the way, we haven’t marketed it at all, we have sent an initial email. So, we are about ready to talk about it a little bit more, we get out of the winter month, where New York is kind of quiet. Springtime, the trees will start having leaves on the rooftop again, and yes, it will bring a little bit more attention to it, maybe send out an email, video and things like that. But it’s not something we are massively focused on. It’s open, it’s so far, it’s done what we intended it to do. But we believe it’s elevated the RH brand, it’s brought the RH brand into a conversation that levels of luxury, that we weren’t in that conversation before. So, I think that people would come, it comes and many global CEOs of luxury brands have brought their teams for tour the guest house.

And I am invited just knocking on our door and stuff reaching out. So and I think it’s created the right conversation with the right people, yes. I think people are more aware of us now and maybe have more of a level of respect of what we are capable of. It’s about the quality of the work we can do. And it’s just another step, another stepping stone as we go and kind of climb this mountain.

Brad Thomas: Understood. Thanks Gary.

Operator: There are no further questions at this time. I will now turn the call back over to Gary Friedman for closing remarks.

Gary Friedman: Thank you everybody for your time and interest and we will look forward to speaking with you soon.

Operator: This concludes today’s call. We thank you for your participation. You may now disconnect.