Dive Brief:
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Corte Madera, CA-based Restoration Hardware said this week it will transform its brick-and-mortar strategy from smaller stores to larger spaces of between 25,000 to 60,000 square feet, which will allow it to better showcase its upscale furniture.
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The retailer reported same-store revenue growth, including direct sales, of 18% and expects growth this year of 20% to 22%.
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CEO Gary Friedman emphasized the scale of the changes by saying "We're like a $1.6 billion (in revenue) start-up.”
Dive Insight:
Restoration Hardware is in the earlier stages of this move to a whole new scale of brick-and-mortar retail operations. But the retailer plans to open the larger format in Los Angeles and Atlanta this year, with one already in place in Greenwich, CT. The company has also signed leases for six more stores, and is in negotiations for another 25 nationwide. Restoration Hardware says its already thick catalog will get bigger as well.