• RH average gross margin for 2023 was 48.6%, a 3.91% decline from 2022.
• RH average gross margin for 2022 was 50.58%, a 6.02% decline from 2021.
• RH average gross margin for 2021 was 47.71%, a 11.01% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.