By The Associated Press
GOOD START: Shares of Restoration Hardware jumped in its first day of trading, up $7.01 or 29.2 percent, to $31.01 in Friday afternoon trading on the New York Stock Exchange. The retailer and its shareholders raised $124 million, selling 5.2 million shares for $24 each.
WELCOME MAT: Sam Hamadeh, CEO of PrivCo LLC, which researches private companies, said investors liked the reasonable price, well-known brand name and chance to make a bet on the improving housing market.
RIGHT AT HOME: Restoration Hardware sells higher-end home goods such as furniture, lighting, textiles, bathware, décor, outdoor and garden, and baby and child products..
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.