Restoration Hardware Holdings Inc. RH, +1.26% shares dropped 15.8% in after-hours trading after the company said it would miss fourth-quarter estimates when it reports on March 24. The home design retailer expects net income of $33.8 million, or 80 cents per share, down from $42.5 million, or $1.02 per share, for the same period last year. Expected adjusted earnings are 99 cents, below the FactSet consensus of $1.39. The company expects revenue of $647.2 million, up from $583 million last year, but well below the $711 million FactSet consensus.

Restoration Hardware says three factors impacted the quarterly results: shipping delays as some vendors struggle to produce items for the new RH Modern line; underperformance in markets like Canada, Texas and Miami that are impacted by energy, oil, or currency fluctuations; and additional promotional activity that didn't drive the anticipated level of revenue, which the company said is “signaling further pullback by the high-end consumer.” Restoration Hardware shares are down 39.1% for the past 12 months while the S&P is down 8.8%.

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