Restoration Hardware's stock experienced a sudden 26% plunge in value following a recent tariff announcement by President Trump, prompting an emotional reaction from CEO Gary Friedman during an earnings call. The company sources 72% of its products from Asia, particularly impacted countries like China and Vietnam, facing tariffs up to 46%. Friedman recognized that the company's challenges reflect wider issues within the home decor industry, indicating that many businesses are facing similar difficulties due to trade uncertainties, which could significantly affect operational forecasts.
We're just really well positioned right now. I think that's the headline. If you're going to bet on somebody in this race, and what's our stock now? Oh really? Oh shit, okay. I just looked at the screen.
I know most of the businesses pretty well, so we're all in the same boat.
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