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After the market closed on February 3, 2023, RH, the holding company that operates luxury home furnishings provider Restoration Hardware, Inc., disclosed “that our previously unaudited financial statements for the three months ended April 30, 2022, the three and six months ended July 30, 2022, and the three and nine months October 29, 2022 (collectively the “Prior Financial Statements”) should no longer be relied upon due to material unintentional errors in certain of these financial periods with respect to our calculation of basic and diluted net income per share.”

Shares of RH dropped more than 7% in early morning trading on Monday, February 6, 2023.

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