‘Really? Oh s**t’: Shocked CEO curses on call as company’s stock crashes after Trump tariffs
Apr 08, 2025 11:44 AM IST
RH CEO Gary Friedman reacted in disbelief as the company’s shares plummeted 40% during an earnings call.
An American CEO’s reeal-time reaction to his company’s stock tanking during a conference call has gone viral amid US President Donald Trump’s new tariff policy.
During a conference call, RH CEO Gary Friedman reacted in disbelief to a 40% plunge in stock prices.(X/@rhunterh)
Luxury furniture retailer Restoration Hardware (RH) CEO Gary Friedman watched its stock tank during its earnings conference call with analysts and his reaction went viral after late night show host John Oliver played the clip during a segment on tariffs on his show Last Week Tonight.
On the call, the CEO was heard asking his team how the stock was doing and his reaction to realising how it had plunged went viral. “Where’s our stock now? I mean, I guess, you know, the stock went down, you know, based on some of the numbers we reported, and then it got killed because of uh, um, oh, really? Oh, s**t. OK,” he was heard saying.
Take a look at the video here:
The baffled CEO continued to react to the situation on the call.
“Oh, sh**. OK. … I just looked at the screen. I hadn’t looked at it. It got hit when I think the tariffs came out. And everybody can see in our 10-K where we’re sourcing from, so it’s not a secret, and we’re not trying to disguise it by putting everything in an Asia bucket,” he said.
RH shares plunged around 40% as investors responded to the double whammy of RH releasing its poor earnings report and Trump’s levies on foreign countries. It marked the furniture retailer’s biggest-one day loss in its 13-year history on the public market.
Friedman explained that the company sources material from Aisa and the stocks dipped after Trump imposed tariff rates of 46% on Vietnam, 32% on Taiwan and 54% on China.
(Also read: ‘Countries like India…’: JPMorgan CEO’s advice to Trump amid trade war fears)
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