Restoration Hardware Boss Bets $1 Billion to Fight Skeptical Investors

Mony
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Gary Friedman, chief executive and chairman of RH, is playing offense against those who don’t believe in his vision for luxury furniture.

Since the start of the year, the retail chain, once known as Restoration Hardware, has bought back nearly half of the company’s shares, wagering about $1 billion in a battle with investors who have staked bets against the stock. The move has helped RH’s share price to roughly triple this year when many retail stocks have tumbled.

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