RH Stock Surges on Optimistic Furniture Demand Outlook

RH stock rose 15% after reporting disappointing Q4 earnings but giving better-than-expected guidance for 2024, indicating a return to growth despite struggles in a challenging housing market. The company plans to invest in marketing and new products in preparation for a recovery in demand, and expects revenue growth of 8%-10% and demand growth of 12%-14% for 2024. RH has also been aggressively buying back shares and anticipates benefiting from the expected decline in interest rates later this year.