‘Oh really? Oh s—.’ CEO reacts live to tariff-based stock plunge on earnings call

• The CEO of Rh covered keeping the effect of his company’s stock tariffs. In an earned call, Gary Friedman stated the shock of the amount fell. RH is more exposed to tariffs, as it is sources of most of its product from Asia.

RH CEO Gary Friedman It has been a bad day on Wednesday before Donald Trump’s release day details are announced.

The earnings for the Mayrury-furning retailer (which changes its name from restarting hardware in 2017) disappointing, coming below the analyst expected. That hurt the company’s share price, but then, in the middle of the containing calls, the trump tariffs are announced – and the shares began to shrink. Friedman’s reaction is not the usual CEO.

“Oh?” Oh, s —-. OK, “he said.” I just looked at the screen. I didn’t look at it. It hit my mind that tariffs went out. And everyone can see our 10-K where we ran out of, so it does not hide it, and we do not seek to hide it by placing all the buckets in Asia. “

RH CEO Gary Friedman, in earned calls last night, the stock was told to fall by 25%. “Really? Oh, sh * t. Okay.” $ Rh (via @ quartr.com)

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– Carl Quintanilla (@ Carlquintanilla.bsky.social) April 3, 2025 at 6:27 am

RH has faith in Asia-making partners, which means it can be affected by more than other firms through tariffs. Given the retailer store prices are already at premium level, which fear customers, additional revenues.

In the fourth quarter of 2024, the RH reported the revenues per share of $ 1.58, away from $ 1.92 forecast analysts. The income also doesn’t take long for expectation.

While his company is at risk of meaningful effects of tariffs, Friedman Express support for Trump and his plan, which he does not think that tariffs are at this level for a long time.

“Leverage is how you win negotiations, not breaking,” Friedman said. “My sight is, I don’t think these tariffs will keep going. I think other countries, you start playing some cards you have.” He argues that tariffs can be “a very good real year.”

This story originally shown Fortune.com

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