Shares of Restoration Hardware climbed to near one-year highs Wednesday after the upscale home furnishing company delivered a beat on earnings and sales.
At one point, the stock spiked more than 15 percent to hit a high of $44 a share, its highest since May 2, 2016. By late morning, the price was up more than 11 percent. With the day's moves, shares are up more than 41 percent over the last three months.
"2016 was a year of transformation and transition at RH," CEO Gary Friedman said in a release. "We transformed our business from a promotional to a membership model that we believe will enhance our brand, streamline our operations, and vastly improve the customer experience."