Restoration Hardware Holdings (RH) surged nearly 14% on Thursday after the company posted a first-quarter beat and hiked its outlook.

The retailer, which sells luxury home goods, has benefited from an uptick in home sales and construction, despite a slowdown in the first half of the year. Restoration Hardware is also changing its business model, phasing out mall locations in favor of larger stores.

After Wednesdays closing bell, the Corte Madera, Calif.-based company said it signed leases for six design galleries and is in talks for at least 25 more.

Once our real estate transformation is complete in North America, we believe we will deliver $4 billion to $5 billion in annual sales, chairman and chief executive Gary Friedman said in a statement.

For the full year, Restoration Hardware is forecasting per-share earnings of $2.24 to $2.30, up from a previous estimate of $2.14 to $2.22. Its outlook for revenue was raised to between $1.86 billion and $1.89 billion, compared to $1.825 billion to $1.86 billion.

The company also provided guidance for earnings of 62 cents to 64 cents a share and revenue of $443 million to $453 million in the current period. Analysts were looking for 61 cents and $452.1 million.

Restoration Hardware reported a profit of $1.8 million, or four cents a share, for the first quarter ended May 3. A year earlier, the retailer booked a loss of $161,000, or less than a penny a share.

Excluding one-time items, adjusted earnings climbed to 18 cents a share from six cents. Revenue jumped 22% to $366.3 million, as same-store sales rose 18%. Gross margin ticked higher to 34% from 33.8%.

Wall Streets consensus estimate called for a profit of 11 cents a share and revenue of $347.7 million.

Shares rallied to $81.11 in recent trading, bringing the stock to a 20.2% gain since the start of 2014.

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Restoration Hardware Sparks Rally With Beat-And-Raise

By Murray Brewster, The Canadian Press

OTTAWA - Federal officials sought to demonstrate Thursday how much work has been done to replace Canada's aging CF-18 jets, but say the details of the evaluation will be kept secret while cabinet weighs whether to continue with the oft-maligned F-35 program.

Members of an independent panel that looked at what fighter aircraft are available as replacements for the 30-year-old Hornets made a public appearance to emphasize the depth and impartiality of their assessment, 14 months in the making.

That analysis, which essentially fact-checks the air force's market evaluation, has been turned over to the government. It lays out what each of the four contenders can do.

Separately, a committee of deputy ministers overseeing the replacement program has handed a recommendation to the Harper cabinet.

The government could continue with the F-35 program, which has been on hold. It could choose an open competition involving the stealth fighter and other aircraft, including the Boeing Super Hornet, Eurofighter's Typhoon, Dassault's Rafale, and possibly the Saab Gripen.

Rewriting the air force's statement of requirements, which critics say was rigged in favour of the F-35, is another possibility and one that could postpone a replacement decision.

No timeline was given, but government insiders said Thursday a substantive decision was expected soon.

Prime Minister Stephen Harper told the House of Commons that the government found the report "helpful" and restated earlier pledges to make a decision in the best long-term interest of the military.

In April 2012, auditor general Michael Ferguson slammed the Harper government's plan to buy 65 stealth jets, accusing Public Works and National Defence of low-balling the cost and not doing their homework.

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Fighter replacement homework done: panel

Sparkling new kitchens and spa-like master bathrooms still sell homes, but homeowners looking for the best return on investment should more often consider minor updates that wont break the bank, real estate experts say.

Remodeling projects can be daunting, but homeowners who set a budget, define their goals and come up with projects that stretch their dollar the farthest will come out on top.

Realtors say they encourage homeowners to undertake major remodeling projects only for personal enjoyment because often the biggest and best improvements dont have a dollar-for-dollar return, especially in the short-term.

The rule I always tell my clients and my sellers is never put a nickel in unless you will get a dime back, said Gary Dominguez, a Lincoln, Neb., real estate agent with HOME Real Estate who spent 25 years in the remodeling business.

John Bredemeyer, president and founder of Realcorp Inc., an appraisal firm in Omaha, Neb., said the best remodeling projects before selling a home are high-impact but with a relatively low cost. A new kitchen could cost $25,000 or more, but new countertops could be installed for $5,000 or less. New carpet and paint are also good projects to consider, he said.

The simple things, go ahead and do, Bredemeyer said. (With) the bigger remodels, the thing you need to think about is how long you are going to be in the house.

Completed remodeling projects dont always translate into a higher resale price, because home appraisals also take into account the value of other homes in the neighborhood, he said.

Bredemeyers daughter, Abby Andress, followed her dads advice before she and her husband put their three-bedroom, 1978 split-entry southwest Omaha home on the market last year.

They painted their kitchen cabinets off-white, added a cement finish to the bathroom countertops, cleaned the carpets and rebuilt the deck.

It made it look newer, said Andress, 30.

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Sellers should consider 'bang for the buck' in remodeling plans

Manhattan Beach, CA (PRWEB) June 11, 2014

Three innovative ideas are what led to Bill Simone, President of Custom Design & Construction, being named the 2014 Fred Case Remodeling Entrepreneur of the Year. The award is one of the remodeling industrys highest honor.

A panel of judges from Case Design/Remodeling, Inc., Hanley-Wood and Harvard University's Joint Center for Housing Studies chose Simone as this year's winner. The judging was based on four principal criteria: business acumen, financial strength, community and industry involvement, and entrepreneurial spirit.

The judges were impressed with Custom Design & Constructions three innovative areas: its offering of design and construction under one company, genuine in-house financing, and a 2,500 sq. ft. Design Center where homeowners can get inspired, explore possibilities and make selections.

"Bill represents not only entrepreneurial thinking, but also entrepreneurial action, which is more important today than ever," remarked Case President Bruce Case. "His forward thinking in offering design and construction all under one roof has allowed him to differentiate himself from others in his market. Offering a one-source solution for residential remodeling in the Los Angeles area is rare," adds Case.

Fred Case, Chairman, CEO and founder of Case, is also very impressed with Simones professionalism, drive and passion. "His creativity, coupled with his ability to adapt to the marketplace, are what makes him such an admirable member of the remodeling community," Fred Case says.

Im honored and humbled by this award," says Bill Simone. We never set out to win the Entrepreneur of the Year award, we simply listened to the Southern California market and created a residential remodeling company that serves it better than others," adds Simone.

About the Fred Case Remodeling Entrepreneur of the Year Award The Fred Case Remodeling Entrepreneur of the Year Award is modeled after the professional achievements of Fred Case, founder and CEO of Case Design/Remodeling, Inc. Fred is credited with pioneering the design/build concept in remodeling in the 1970s and was also instrumental in developing the first certification system for remodelers while chairing the National Education Committee of the National Association of the Remodeling Industry (NARI). Among many other honors, Fred won the first NARI "Contractor of the Year Award" in 1976, and was recognized in 1984 with NARI's Harold Hammerman "Spirit of Education" Award for excellence in education and training. In 1999, he became the first-ever recipient of Remodeling magazine's Foundation Award for Lifetime Achievement, and was inducted into NAHB's Remodeler's National Hall of Fame in 2002. Most recently, Fred was named the first Master Certified Remodeler by NARI.

About Custom Design & Construction Founded in 1986, Custom Design & Construction is a full service residential design build firm serving Manhattan Beach, Playa Del Rey, Marina del Rey, Redondo Beach, Torrance, Hermosa Beach, Hawthorne, Palos Verdes, El Segundo, and the entire South Bay. The company specializes in whole house remodels, kitchens, bathrooms, room additions and new construction. They have a 2,500 sq. ft. Design Center located at 2001 E. Mariposa Ave. in El Segundo. Their projects have been featured in Time magazine, the Los Angeles Times, Womens Day, Smart Money, and many industry publications. Several have won national awards including the prestigious Chrysalis Project of the Year, Kitchen of the Year, Bathroom of the Year, as well as numerous others. They have been named Chrysalis Remodeler of the Year, and are a three-time winner of California Remodeler of the Year, nine-time Qualified Remodeler Top 500 recipient, and Remodeling magazine Big 50 member.

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Local Manhattan Beach Resident Bill Simone Named Remodeling Entrepreneur of the Year

Siding Installation in Rome, NY
http://www.newyorksash.com Scot Hayes of New York Sash discusses a vinyl siding installation in Rome, NY.

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Home Visions Inc. installed twenty three squares of vinyl siding for the owner of this home in Gywnn Oak, MD - Baltimore County. The project consisted of tea...

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Joe Rivette was scratching his head for a while trying to figure out what kind of house was going up at the northwest corner of 25th Street and Pennsylvania Avenue.

Weve all been watching that house go up, said Rivette, who has been observing the construction project from a dwelling nearby. It was going OK until they put that roof on it.

But its growing on me now. What I want to know is: Do they have a name for that type of architecture?

Rivette, who has lived in Joplin for 60 years, said he remembers what 25th and Pennsylvania looked like before the tornado in May 2011. The neighborhood today, with its uniform single-story bungalows, cottages and ranch-like houses, is far different from what existed three years ago.

None of those houses that were here before looked alike, he said. You know, I think the tornado robbed Joplin of part of its personality. There were a lot of old and run-down houses from the time Joplin was a mining town. Those houses gave this town personality.

The builders of the spec house, Matt Harris and Matt Robertson, with the Fox Creek Construction Group, want to give 25th and Pennsylvania some of the personality it has lost by challenging conventional thinking about home design in Joplins tornado zone.

We wanted to do something creative instead of building the same houses over and over again, Harris said. We think this minimalist contemporary style will take off because we can keep costs down. We think the younger generation gets it.

We wanted to do something different, and show that you could build for under $100,000 and have something thats on the higher end when youre finished.

Harris said people have told him they are surprised that the city would permit such a nontraditional style in a neighborhood with uniform construction.

We had to battle the city a little over this because it looks different, he said. But they granted us a permit. I dont think they can dictate what it is supposed to look like.

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Builders: Minimalist house attracting double takes

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