Restoration Hardware Pops In Market Debut

Restoration Hardware priced 5.2 million shares. The company offered 4.8 million shares with selling stockholders offering the rest. Based in Corte Madera, Calif., the company sells furniture, bath linen, lighting fixtures and other items through its stores, catalogs and online.

The company competes with retailers like Williams Sonoma Inc , which operates the Pottery Barn and West Elm chains, Ethan Allen Interiors Inc and Pier 1 Imports Inc . As of July 28, 2012, it operated 73 retail stores in the United States and Canada.

Restoration Hardware’s revenue grew 24 percent to $958.1 million in fiscal year 2012. It swung to a profit of $20.6 million from a loss of $7 million in the year prior.

BofA Merrill Lynch and Goldman Sachs were the lead underwriters to the offering.

(Reporting by Olivia Oran of sister news service Reuters; Editing by Gerald E. McCormick)