Submitted by Fox First at Ten on November 2nd
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..
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