RHI 利润率受到关税压力；若盈利企稳，将释放深度价值机会的信号。
逐段跳播
Restoration Hardware 即将发布财报。老实说，对 Restoration Hardware 来说，最大的考验将是，他们基本上收购了大约一年的库存，以抢在关税之前，因为当时的想法是关税到那时应该已经取消了，[笑声] 但并没有。
它们比以往任何时候都更糟。所以，你看，我们现在面对 Restoration Hardware，他们将不得不开始按含关税的价格收购库存。我敢打赌，他们最终会看到利润率受到真正的重大打击，这和我们 Apple 那边看到的情况有点相反。
Restoration Hardware going into the earnings. The big test honestly for for Restoration Hardware is going to be they basically acquired about a year worth of inventory to get ahead of the tariffs because the thought is the tariffs would be gone by now [laughter] and they're not. They're like worse than ever before. So, you know, here we are with Restoration Hardware and they're going to have to start acquiring inventory at tariff values. I would bet they're going to end up seeing uh a real big hit to margins, which is kind of the opposite of what we're seeing at our Apple.
我拿到了 Restoration Hardware。它离一条线都还差得远。
I got Restoration Hardware. It's not anywhere near a line.
而 Restoration Hardware 还没出来。
And Restoration Hardware is not out yet.
你看，Restoration Hardware 还没公布。拜托，Restoration Hardware，醒醒吧。
You see, Restoration Hardware is still not out. Come on, Restoration Hardware, wake up.
还是没有 Restoration Hardware。
Still no restoration hardware.
是啊，Restoration Hardware 还没公布。他们也晚了。
Yeah, Restoration Hardware still hasn't come out. They're late as well.
Restoration Hardware 估值下跌。是啊，这取决于他们能不能——这本来会是一份财报，如果他们真能显示出利润率已经停止下滑，并且能够开始掉头向上。
Restoration hardware deval. Yeah, it depends if they can like this would be an earning set where if they can actually show that their margins have stopped declining and they could start U-turning.
是啊，你说得对。这会开始看起来像深度价值。深度他妈的价值。
Yeah, you're getting right. You know, it's gonna start looking like deep value. Deep effing value.
他说在等什么
这个频道对 $RHI 的历次判断
Meet Kevin 在这只股票上只有这一条判断。