Restoration Hardware gives new excuse for failure

Breakingviews
Kate Duguid
Restoration Hardware store
Cyrus McCrimmon | The Denver Post | Getty Images

It has become something of a tradition for American companies to concoct ever more fanciful excuses for missing their profit targets.

In recent years, firms have graduated from bad weather and currency shifts to icy roads and even Russian President Vladimir Putin to explain their failures. Fancy furniture peddler Restoration Hardware is proffering a novel addition to the pantheon: stock-market jitters.