RH Chief Gallery & Customer Officer exit ‘no doubt a loss,’ says Jefferies

Jefferies analyst Jonathan Matuszewski notes that RH‘s (RH) Chief Gallery & Customer Officer, Stefan Duban, formally departed from the company on January 26 and called the exit “no doubt a loss for the luxury brand.” While the 8-K announcing the departure does not provide context for Duban’s next steps, a “worst case scenario” would be a chief competitor like Arhaus (ARHS), notes the analyst, who highlights the recent talent war between the two rivals, including RH’s recent hiring of Arhaus Chief Merchandising Officer Lisa Chi. Jefferies reiterates a Hold rating and $168 price target on RH shares.