Furniture retailer RH rises after surprise profit; on track to cut China exposure

Shares of luxury furniture retailer RH RH.N up 18.8% at $210.10 after the bell

RH posts Q1 adj profit of 13 cents/shr versus Wall Street estimates of a loss of 9 cents/shr

Reports quarterly revenue rise of 12%, nearly in line with expectations, according to data compiled by LSEG

Maintains annual forecast, despite uncertainty related to tariffs and macroeconomic environment, assuming existing tariffs remain unchanged

Says tariff disruption will negatively impact revenue by about 6 points in Q2 and expects recovery in the second half

"We have continued to shift sourcing out of China and expect receipts to decrease from 16% in Q1 to 2% in Q4"

Company sees Q2 revenue growth of 8% to 10%, compared with estimates of 10.3% rise

Up to last close, stock down 55% YTD