What changed in this filing

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Item 1. Business

2026-04-01 compared with 2025-04-02 · 93 added, 94 removed, 202 unchanged (48% of the section changed)

4 unchanged sentences

We position our Galleries as showrooms for our brand, while our websites and Sourcebooks act as virtual and print extensions of our physical spaces, respectively.

We operate our retail locations throughout the United States and Canada as well as in the United Kingdom, Germany,

Belgium and Spain and we have an integrated RH Hospitality experience in 21 of our Design Gallery locations, which includes restaurants and wine bars.

We operate our retail locations throughout the United States, Canada and Europe, and we have an integrated RH Hospitality experience in 25 of our Design Gallery locations, which includes restaurants and wine bars.

Key Value-Driving Strategies

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Our products are presented across multiple collections, categories and channels that we control, and we believe their desirability and exclusivity have enabled us to achieve strong revenues and margins.

Our customers know our brand concepts as RH Interiors, RH Modern, RH Contemporary, RH Outdoor, RH Beach House, RH Ski House, RH Baby & Child, RH TEEN and Waterworks.

Our customers know our brand concepts as RH Interiors, RH Modern, RH Outdoor, RH Beach House, RH Ski House, RH Baby & Child, RH Teen and Waterworks.

Our strategy is to continue to elevate the design and quality of our product.

Beginning with the mailing of our RH Interiors Sourcebook in the fall of 2023 and with additional Sourcebook mailings throughout 2024, we have introduced the most prolific collection of new products in our history.

In addition, over the next few years, we plan to introduce RH Couture, RH Bespoke and RH Color.

Beginning with the mailing of our RH Interiors Sourcebook in the fall of 2023 and with additional Sourcebook mailings throughout 2024 and 2025, we have introduced the most prolific collection of new products in our history, which will continue with the spring 2026 launch of RH Estates, featuring RH Bespoke furniture and RH Couture upholstery.

Gallery Transformation .

Our products are elevated and rendered more valuable by our architecturally inspiring Galleries.

We believe our strategy to open new Design Galleries in every major market in North America will unlock the value of our vast assortment, generating an expected annual revenue opportunity for our business of $5 to $6 billion.

We believe we can significantly increase our sales by transforming our real estate platform from our existing legacy retail footprint to a portfolio of Design Galleries sized to the potential of each market and the size of our assortment.

In addition, we plan to incorporate hospitality into many of the new Design Galleries that we open in the future, which further elevates and renders our product and brand more valuable.

We believe our strategy to open new Design Galleries in every major market in the United States and Canada will unlock the value of our vast assortment, generating an expected total annual revenue opportunity of $5 to $6 billion.

We believe we can increase our sales by continuing to transform our real estate platform from our existing legacy retail footprint to a portfolio of Design Galleries sized to the potential of each market and the size of our assortment.

In addition, we plan to incorporate hospitality into many of the new Design Galleries that we open in the future, which we believe further elevates and renders our product and brand more valuable.

We believe hospitality has created a unique new retail experience that cannot be replicated online and that the addition of hospitality drives incremental sales of home furnishings in these Galleries.

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We entered this industry with the opening of the RH Guesthouse New York in September 2022 and are in the process of constructing our second RH Guesthouse in Aspen.

In June 2023, we opened RH England, The Gallery at the Historic Aynho Park, a 400-year-old landmark estate representing the most inspiring and immersive physical expression of the brand to date.

In June 2023, we opened RH England, The Gallery at the Historic Aynho Park, a 400-year-old landmark estate representing one of the most inspiring and immersive physical expressions of the brand.

RH England marked the beginning of our global expansion beyond North America.

Additionally, we offer bespoke experiences like RH Yountville, an integration of Food, Wine, Art & Design in the Napa Valley;

RH1 & RH2, our private jets;

and RH3, our luxury yacht that is available for charter in the Caribbean and Mediterranean, where the wealthy and affluent visit and vacation.

RH One & RH Two, our private jets;

and RH Three, our luxury yacht that is available for charter in the Caribbean and Mediterranean, where the wealthy and affluent visit and vacation.

These immersive experiences expose both new and existing customers to our evolving authority in architecture, interior design and landscape architecture.

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Global Expansion.

We believe that our luxury brand positioning and unique aesthetic have strong international appeal, and that pursuit of global expansion will provide RH with a substantial opportunity to build over time a projected $20 to $25 billion global brand in terms of annual revenues.

Our view is that the competitive environment globally is more fragmented and primed for disruption than the North American market, and there is no direct competitor of scale that possesses the product, operational platform, and brand strength of RH.

As such, we are actively pursuing the expansion of the RH brand globally, which began with the opening of RH England, RH Munich and RH Düsseldorf in 2023, followed by the opening of RH Brussels in March 2024 and RH Madrid in June 2024.

We are also under construction in Paris, London and Milan in inspiring spaces that will celebrate the heritage of the historic structures and will integrate full expressions of our hospitality experiences.

We believe that our luxury brand positioning and unique aesthetic have strong international appeal and that global expansion will provide RH with a substantial opportunity to build a projected $20 to $25 billion global brand in terms of annual revenues.

Our view is that the competitive global environment is more fragmented and primed for disruption than the North American market, and there is no direct competitor of scale that possesses the product, operational platform and brand strength of RH.

In September 2025, we opened RH Paris, The Gallery on the Champs-Élysées, located just off the Avenue Montaigne, which stands at the global epicenter of fashion and luxury.

We believe the opening of RH Paris marks a major step forward in the European expansion of our business.

In 2026, we expect to open RH Milan, The Gallery on Corso Venezia, and RH London, The Gallery in Mayfair, which we believe will be inspiring spaces that celebrate the heritage of the historic structures and integrate full expressions of our hospitality experiences.

In addition, we plan to open RH Sydney, The Gallery in Double Bay, in Australia in the coming years.

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Our strategy is to digitally reimagine the RH brand and business model both internally and externally.

Internally, our multiyear effort began with the reimagination of our Center of Innovation to incorporate digitally integrated visuals and decision data designed to amplify the creative process from product ideation to product presentation.

Internally, our multiyear effort began with the reimagination of our RH Center of Innovation to incorporate digitally integrated visuals and decision data designed to amplify the creative process from product ideation to product presentation.

Externally, our strategy comes to life digitally through The World of RH, an online portal where customers can explore and be inspired by the depth and dimension of our brand.

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We believe an opportunity exists to create similar strategic separation online as we have with our Galleries offline, reconceptualizing what a website can and should be.

We are making meaningful investments to elevate and differentiate our online experience with plans to upgrade our website throughout 2025.

We have made meaningful investments to elevate and differentiate our online experience in 2025, and we expect to continue investing in these initiatives in 2026.

Products and Product Development

We have positioned RH as a lifestyle brand and design authority by offering expansive merchandise assortments.

We are merchants of luxury home furnishings, and our products embody our design aesthetic and reflect inspiration from across the centuries and around the globe.

We are a merchant of luxury home furnishings, and our products embody our design aesthetic and reflect inspiration from across the centuries and around the globe.

We have developed a proprietary product development platform that is fully integrated from ideation to presentation.

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Facility —We have built the RH Center of Innovation, a facility that supports the entire product development process from ideation to presentation across all channels.

Our proprietary organization, process and facility enhance our ability to introduce more new products with each collection.

Our proprietary product development platform enhances our ability to introduce more new products with each collection.

In addition, our product development platform, sourcing capabilities and significant scale enable us to reduce our product costs.

Sales Channels

We distribute our products through a fully integrated sales platform comprising our retail locations, including RH Galleries and Waterworks Showrooms, in addition to our websites, Sourcebooks, Trade, Contract and Outlets.

We distribute our products through a fully integrated sales platform comprising our retail locations, including RH Galleries, RH Interior Design Studios and Waterworks Showrooms, in addition to our websites, Sourcebooks, Trade, Contract and Outlets.

We believe the level of integration among all of our channels and our approach to the market distinguish us from other retailers.

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Retail Locations

As of February 1, 2025, our retail locations comprise RH Galleries, RH Interior Design Office and Waterworks Showrooms:

As of January 31, 2026, our retail locations comprise RH Galleries, an RH Interior Design Studio and Waterworks Showrooms:

AVERAGE SELLING

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Legacy Galleries

Outdoor Galleries

Modern Gallery

Baby & Child and TEEN Galleries

Interior Design Office

Baby & Child Gallery

Interior Design Studio

Total RH retail locations—North America

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Selling square footage is retail space at our retail locations used to sell our products, as well as space for our restaurants and wine bars.

Selling square footage excludes backrooms at retail locations used for storage, office space, food preparation, kitchen space or similar purpose as well as exterior sales space located outside a retail location, such as courtyards, gardens and rooftops.

Selling square footage excludes backrooms at retail locations used for storage, office space, food preparation, kitchen space or similar purposes, as well as exterior sales space located outside a retail location, such as courtyards, gardens and rooftops.

(2) We have an integrated RH Hospitality experience in 25 of our Design Galleries and in our one RH Guesthouse.

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Products in our Galleries are presented in fully appointed rooms, emphasizing collections over individual pieces.

This presentation inspires our customers to consider purchasing a full collection of products to replicate the design aesthetic experienced in our Galleries.

In addition, our employees use iPads and other devices to allow customers to shop our entire merchandise assortment while in a retail location.

This presentation inspires our customers to consider purchasing a full collection of products to replicate the design aesthetic experienced in our Galleries, Sourcebooks or online.

We believe situating our Galleries in desirable locations, such as iconic buildings and luxury retail shopping centers, is critical to the success of our business.

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We maximize our retail location square footage, as well as Sourcebook circulation, to capitalize on each market’s sales potential and increase our return on invested capital.

We believe our integrated RH hospitality experience, which includes restaurants and wine bars, has created a unique retail experience that cannot be replicated online, and that the addition of hospitality drives incremental sales of home furnishings in these Galleries.

We believe our integrated RH Hospitality experience, which includes restaurants and wine bars, has created a unique retail experience that cannot be replicated online, and that the addition of hospitality offerings drives incremental sales of home furnishings in these Galleries.

We plan to incorporate hospitality into many of the new Galleries that we open in the future.

We have identified key learnings from our real estate transformation that have supported the development of a multi-tier market approach described below that we believe will optimize both market share and return on invested capital.

We have identified key learnings from our real estate transformation strategy that have supported the development of a multi-tier market approach described below that we believe will optimize both market share and return on invested capital.

FORM 10-K | 3

First, we have strategically designed our Design Galleries as innovative and adaptable formats, allowing us to accelerate the introduction of our disruptive product assortments and immersive retail experiences into the market.

We will continue to refine and evolve these formats based on key insights from recent openings, such as RH Palo Alto and RH Newport Beach.

We will continue to refine and evolve these formats based on key insights from recent openings, such as RH Palo Alto, RH Newport Beach, RH Montreal and RH Detroit.

Most Design Galleries encompass approximately 30,000 to 50,000 square feet of selling space, seamlessly integrating our hospitality offerings while showcasing our product collections across multiple categories.

These Galleries also house interior design offices and presentation rooms where our designers collaborate with clients to bring their projects to life.

These Galleries also house interior design offices and presentation rooms where our designers collaborate with customers to bring their projects to life.

Additionally, we plan to introduce RH Design Compounds in 2026, which consist of six to eight independent buildings connected by beautifully landscaped garden courtyards, with a sun filled atrium restaurant anchoring the project.

We are currently developing RH Design Compounds in Naples and Miami, Florida and Walnut Creek, California.

Second, we will continue to develop and open larger bespoke Design Galleries in the top metropolitan markets, similar to those we opened in New York, Chicago and San Francisco.

These iconic locations reinforce our long-term competitive advantage and establish a market presence that we believe is difficult to replicate.

We opened our first bespoke international location, RH England, The Gallery at the Historic Aynho Park, in June 2023, and we plan to further expand this concept across the U.S.

Upcoming bespoke locations include RH Paris, The Gallery on the Champs-Élysées and RH London, the Gallery in Mayfair.

We opened our first bespoke international location, RH England, The Gallery at the Historic Aynho Park, in June 2023, and our second bespoke international location, RH Paris, The Gallery on the Champs-Élysées, in September 2025.

In 2026, we expect to further expand this concept across the United States and Europe, including with the planned openings of RH Milan, The Gallery on Corso Venezia, and RH London, The Gallery in Mayfair.

Third, we will continue to open smaller scale Design Galleries and bespoke Design Galleries in neighborhoods, towns and small cities where the wealthy and affluent live, visit and vacation.

These locations are thoughtfully tailored to reflect the local culture and are proportionate to each market’s potential.

Examples include RH Yountville and RH Montecito, along with forthcoming openings in Aspen and Manhasset.

Additionally, we debuted our first Interior Design Office in Palm Desert, California, in December 2024.

Examples include RH Yountville and RH Montecito, along with a forthcoming opening in Aspen.

Additionally, we debuted our first Interior Design Studio in Palm Desert, California, in December 2024.

In certain markets we are creating ecosystems, a multi-building brand presence on a street, in a neighborhood, design district or shopping center, such as in Greenwich, Palm Desert and Los Angeles.

The pace of our Gallery openings is influenced by multiple factors, including market conditions and strategic priorities.

We also continue to extend our international footprint, with agreements in place for Design Galleries in select markets outside of North America, including France, the United Kingdom, Italy and Australia.

We also continue to extend our international footprint, with agreements in place for Design Galleries in select markets outside North America, including the United Kingdom, Italy and Australia.

This global expansion aligns with our broader vision of establishing RH as a leading luxury lifestyle brand worldwide.

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(square footage in thousands)

Beginning of period

Beginning of fiscal year

RH Design Galleries

Oklahoma City

Newport Beach

Indianapolis (relocation)

RH Legacy Galleries

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Santa Barbara

Detroit (relocation)

Short Hills (relocation)

RH Baby & Child and TEEN Gallery

RH Interior Design Office

RH Outdoor Galleries

RH Baby & Child and Teen Galleries

RH Interior Design Studio

Waterworks Showroom

Atlanta (relocation)

End of period

New York (remodel)

Dallas (remodel)

End of fiscal year

Total square footage at end of period (2)

FORM 10-K | 5

(1) Represents retail space at our retail locations used to sell our products, as well as space for our restaurants and wine bars.

Excludes backrooms at retail locations used for storage, office space, food preparation, kitchen space or similar purpose, as well as exterior sales space located outside a retail location, such as courtyards, gardens and rooftops.

Includes approximately 89,000 square feet as of fiscal 2024 related to three owned retail locations and approximately 56,000 square feet as of fiscal 2023 related to two owned retail locations.

(2) Includes approximately 142,000 square feet as of fiscal 2024 related to three owned retail locations and approximately 100,000 square feet as of fiscal 2023 related to two owned retail locations.

Weighted-average square footage and selling square footage are calculated based on the number of days a retail location was opened during the period divided by the total number of days in the period, and were as follows:

Includes approximately 130,000 square feet as of fiscal 2025 related to four owned retail locations and approximately 89,000 square feet related to three owned retail locations as of fiscal 2024.

(2) Includes approximately 198,000 square feet as of fiscal 2025 related to four owned retail locations and approximately 142,000 square feet related to three owned retail locations as of fiscal 2024.

FORM 10-K | 5

Weighted-average square footage and selling square footage are calculated based on the number of days a retail location was open during the period divided by the total number of days in the period, and were as follows:

(in thousands)

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The following list shows the number of retail locations in each U.S.

state and foreign country where we operate as of February 1, 2025:

state and foreign country where we operate as of January 31, 2026:

District of Columbia

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Massachusetts

(1) The United Kingdom retail locations include an RH Design Gallery and a Waterworks Showroom.

(1) Includes an RH Design Gallery and a Waterworks Showroom.

We continually analyze opportunities to selectively consolidate retail locations in connection with openings of our Design Galleries or close retail locations that have been under-performing or are no longer consistent with our brand positioning.

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Waterworks products are sold online through the waterworks.com and rh.com websites.

6 | FORM 10-K

Our websites allow our customers to experience the unique lifestyle settings reflected in our Sourcebooks and throughout our Galleries and Showrooms, and to shop all of our current product assortment.

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The RH websites also offer room-based navigation, which allows the customer to envision and shop items by room or by product, expanding on the richness of the online experience.

Customers can search the websites for products by size or color, browse through our extensive product categories and see detailed information about each item and collection, such as dimensions, materials and care instructions.

Customers can search the websites for products by size or color, browse our extensive product categories and see detailed information about each item and collection, such as dimensions, materials and care instructions.

Additionally, customers can select swatches and view merchandise displayed with different color, finish and material options.

6 | FORM 10-K

We produce a series of catalogs, which we refer to as Sourcebooks, to showcase our merchandise assortment.

Our Sourcebooks include RH Interiors, RH Contemporary, RH Modern, RH Outdoor, and RH Baby & Child and TEEN.

Our Sourcebooks include RH Interiors, RH Modern, RH Outdoor, and RH Baby & Child and RH Teen.

Our Sourcebooks are one of our primary branding and advertising vehicles.

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Our Sourcebooks also feature profiles of select artisan vendors and other compelling editorial content regarding home décor.

All creative work on our Sourcebooks is coordinated in-house in our RH Center of Innovation, providing us greater control over the brand image presented to our customers, while also reducing our Sourcebook production costs.

All creative work on our Sourcebooks is coordinated in-house in our RH Center of Innovation, providing us with greater control over the brand image presented to our customers, while also reducing our Sourcebook production costs.

We distribute our Sourcebooks throughout countries in which we operate.

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Trade and Contract

In the Trade channel, we work directly with residential interior designers and decorators purchasing products for their clients’ residential projects.

In the Trade channel, we work directly with residential interior designers and decorators purchasing products for their customers’ residential projects.

We also sell directly to consumers who make purchases with the assistance of their residential interior designer or decorator.

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Our outlet stores serve as a key part of our reverse logistics platform and provide an efficient means to sell primarily returned merchandise and, to a lesser extent, discontinued and overstock merchandise outside of our core sales channels.

As of February 1, 2025, we operated 40 outlet stores, including one outlet location in the United Kingdom.

FORM 10-K | 7

As of January 31, 2026, we operated 44 outlet stores, including one outlet location in the United Kingdom.

Marketing and Advertising

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We use our customer database to tailor our programs and increase the efficiency of our marketing and promotional initiatives.

We leverage our marketing and advertising expenses across all our channels as we seek to optimize the efficiency of our investment.

We leverage our marketing and advertising expenses across all our channels as we seek to optimize the efficiency of our investments.

Additionally, we operate certain brand-elevating assets that also serve as advertising vehicles for the RH brand, including RH Guesthouse New York;

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RH Yountville, an integration of Food, Wine, Art & Design in the Napa Valley;

RH1 & RH2, our private jets available for charter;

and RH3, our luxury yacht available for charter.

The highly differentiated design aesthetic and environment of our Galleries drives customer traffic not only to our physical spaces but also to our websites.

RH One & RH Two, our private jets available for charter;

and RH Three, our luxury yacht available for charter.

FORM 10-K | 7

The highly differentiated design aesthetic and environment of our Galleries drive customer traffic not only to our physical spaces but also to our websites.

Our Sourcebooks and targeted emails further reinforce the RH brand image and drive sales across all of our channels.

We also participate in a wide range of other marketing, promotional and public relations activities.

These campaigns include media coverage in design, lifestyle, culture/society and specialty publications, as well as in-Gallery events related to new Gallery openings.

In addition, we engage in print advertising in brand-relevant publications such as Architectural Digest, Elle Decor, T:

The New York Times Style Magazine, WSJ.

Magazine, Business of Home, Luxe Interiors + Design, C Magazine and others.

We believe that these efforts drive increased brand awareness, leading to higher sales over time.

These campaigns include media coverage in design, lifestyle, culture/society and specialty publications, as well as events related to new Gallery openings.

In addition, we engage in global print advertising across brand-relevant publications, including US titles such as Architectural Digest, ELLE Decor, Veranda, Town & Country, T:

The New York Times Style Magazine, LUXE Interiors + Design, C Magazine, Galerie Magazine and Modern Luxury ;

UK titles such as The World of Interiors, Wallpaper*, ELLE Decoration UK, House & Garden and Financial Times HTSI ;

and leading European editions of Architectural Digest and Elle Decoration , among other international luxury, lifestyle and design titles.

RH Members Program

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We manage the distribution and delivery of our products through our distribution centers.

We currently operate four fulfillment centers servicing RH products, which are located strategically in markets throughout the United States.

We have one fulfillment center in the United States servicing Waterworks products.

We currently operate four distribution centers servicing RH products, which are located strategically in markets throughout the United States.

We have one distribution center in the United States servicing Waterworks products.

In addition, we have one third-party distribution center in Europe and continue to develop our supply chain strategy in connection with our global expansion.

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We believe we have dramatically enhanced the customer experience while reducing return rates, damages and deliveries per order by enhancing the quality of our delivery providers through metric-based accountability standards.

8 | FORM 10-K

We believe our supply chain and fulfillment operations allow us to manage customer orders and distribute merchandise to our customers in an efficient and cost-effective manner, and we continue to identify opportunities to improve the delivery of our products.

8 | FORM 10-K

The home furnishings sector is highly competitive.

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We also believe that our success depends in substantial part on our ability to originate and define product trends, as well as to timely anticipate, gauge and react to changing consumer demands.

We compete with a number of home furnishings retailers, including national and regional businesses, as well as new market participants that operate predominantly online.

We compete with a number of home furnishings retailers, including regional, national and international businesses, as well as new market participants that operate predominantly online.

We also compete with the interior design trade and specialty stores, as well as antiques dealers and other merchants that provide unique items and custom-designed products at higher price points.

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Certain of our competitors are larger and have greater financial, marketing and other resources than us.

However, many smaller specialty retailers may lack the financial resources, infrastructure, scale and national brand identity necessary to compete effectively with us.

As we continue to expand our business globally, we will face new competitors .

RH is guided by our vision, values and beliefs, which shape our culture, inform our decisions and drive our long-term strategy.

As a vision-led organization, we are committed to our core values—People, Quality, Service, and Innovation.

Our unique culture is embodied by our team members and reflected in everything we do.

Our success and future growth rely on our dedication to these values, which shape every facet of our organization.

RH is an equal-opportunity employer committed to meritocratic hiring.

Our goal is to ensure the right person is in every role across our organization.

We believe that a workforce that reflects a range of skills, experiences and backgrounds aligned with our culture, values and business needs, enhances our performance.

Our distinctive culture attracts highly talented individuals who share our core values.

Our commitment to equity is upheld through a strict non-discrimination policy governing all aspects of employment, including recruitment, hiring, training, promotion, compensation, job assignments, benefits, transfers, discipline and discharge.

We are committed to maintaining the highest standards to ensure the safety, health, and well-being of our team members and guests in every environment we operate.

We also hold our vendors to these same principles, requiring adherence to our Product Partner Code of Conduct, which can be found on the Investor Relations section of our website at ir.rh.com under “Governance—Environmental, Social & Governance.”

However, many smaller specialty retailers may lack the financial resources, infrastructure, scale and brand identity necessary to compete effectively with us.

RH is led by our vision and guided by our values and beliefs that define our culture, inform our decisions and drive our long-term strategy.

As a vision-led organization, we are committed to our values—People, Quality, Service and Innovation—which are brought to life every day through the actions and behavior of our team members.

Our unique culture is reflected in everything we do.

Our success and long-term growth are centered on the alignment to these values across every part of the organization.

We are an equal opportunity employer committed to meritocratic hiring and performance-based advancement.

Our objective is to ensure the right person is in every role.

We believe that we drive performance and innovation through teams made up of diverse skills, experiences and perspectives that are aligned with our culture, values and business needs.

Our distinctive culture continues to attract exceptional talent who share our values.

Equity and fairness are fundamental to who we are.

We maintain a strict non-discrimination policy that governs all aspects of employment, including recruitment, hiring, training, promotion, compensation, job assignments, benefits, transfers, discipline and separation.

We are committed to maintaining the highest standards to ensure the safety, health and well-being of our team members and guests across every environment.

These expectations extend to our partners and vendors, who are held to the same standards through our Product Partner Code of Conduct, available on the Investor Relations section of our website at ir.rh.com under “Governance—Environmental, Social & Governance.”

Certain headcount data was as follows:

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FORM 10-K | 9

Environmental, Social and Governance

Our environmental , social and certain other governance efforts are implemented through our environmental, social and governance (“ESG”) programs, which are designed to align our approach to ESG issues with the interests of our people, customers and shareholders and their respective ESG concerns.

Further details regarding our ESG programs can be found on the Investor Relations section of our website, located at ir.rh.com under “Governance—Environmental, Social & Governance.”

Intellectual Property

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Each of our trademark registrations is perpetually renewable provided that we use or continue to use the trademarks in commerce in the particular geographic market and for the goods or services covered by the registration.

In addition, we own many domain names, including rh.com , restorationhardware.com , rhmodern.rh.com , rhbabyandchild.rh.com , rhteen.rh.com , rhbeachouse.com , rhskihouse.com , rhguesthouse.com , waterworks.com and others that include our trademarks.

In addition, we own many domain names, including rh.com , restorationhardware.com , rhmodern.rh.com , rhbabyandchild.rh.com , rhteen.rh.com , rhbeachhouse.com , rhskihouse.com , rhguesthouse.com , waterworks.com and others that include our trademarks.

These domain names are perpetually renewable.

We also own design patent registrations for some of our product designs and own copyright registrations for our Sourcebooks and website, which cover our photographs within those works.

We own design patents or pending design patent applications to protect the ornamental appearance of several of our products.

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Our quarterly results vary depending upon a variety of factors, including changes in our product offerings and the introduction of new merchandise assortments and categories, changes in retail locations, the timing of Sourcebook releases, and the extent of our realization of the costs and benefits of our numerous strategic initiatives, among other things.

For example, we have historically experienced some seasonality in our business trends as our sales are typically higher in the second fiscal quarter, which correlates to a peak selling season for outdoor items and outdoor furniture.

For example, we have historically experienced some seasonality in our business trends as our sales are typically higher in the second fiscal quarter, which correlates with a peak selling season for outdoor furniture and accessories.

As a result of these factors, our working capital requirements and demands may fluctuate during the year.

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Corporate Information

The Company was formed as a Delaware corporation on August 18, 2011.

On November 7, 2012, the Company completed an initial public offering.

On December 15, 2016, Restoration Hardware Holdings, Inc.

filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to change its name to “RH,” effective January 1, 2017.

We formed our company as a Delaware corporation on August 18, 2011.

On November 7, 2012, we completed our initial public offering.

On December 15, 2016, we filed a Certificate of Amendment to our Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to change our name to “RH,” effective January 1, 2017.

Regulation and Legislation

We are subject to numerous regulations, including labor and employment laws, customs, laws governing truth-in-advertising, consumer protection, privacy, safety, real estate, environmental and zoning and occupancy laws, and other laws and regulations that regulate retailers and govern the promotion and sale of merchandise and the operation of our retail and hospitality locations, outlets and warehouse facilities, in the United States and other international locations in which we operate presently or plan to in the future, as well as in jurisdictions from which we source our products.

We are subject to numerous regulations, including laws and regulations governing labor and employment laws, customs, truth in advertising, consumer protection, privacy, safety, real estate, environmental and zoning and occupancy, and other laws and regulations that regulate retailers and govern the promotion and sale of merchandise and the operation of our retail and hospitality locations, outlets and supply chain facilities, in the United States and other international locations in which we operate presently or plan to in the future, as well as in jurisdictions from which we source our products.

We believe we are in material compliance with laws applicable to our business.

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The SEC maintains a website that contains reports, proxy statements and other information about issuers, like us, who file electronically with the SEC at sec.gov .

10 | FORM 10-K

We maintain public internet sites at rh.com and restorationhardware.com and make available, free of charge, through these sites our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, Proxy Statements and Forms 3, 4 and 5 filed on behalf of directors and executive officers, as well as any amendments to those reports filed or furnished pursuant to the Exchange Act as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC.

The charters for our Board of Directors’ Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee, as well as our Code of Business Conduct, our Corporate Governance Guidelines and Code of Ethics for Chief Executive Officer and Senior Financial Officers and other related materials, including press releases and other information about financial performance, are available on our websites.

The charters for our Board of Directors’ Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee, as well as our Code of Business Conduct, our Corporate Governance Guidelines and Code of Ethics for our Chief Executive Officer and Senior Financial Officers and other related materials, including press releases and other information about financial performance, are available on our websites.

We may use our websites as a means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business