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RH (NYSE: RH), formerly Restoration Hardware, released updated guidance for its fiscal third quarter after the markets closed on Wednesday. The stock hit a new 52-week high in Thursday’s session, and by the looks of it, the stock could be closing in on an all-time high if earnings go according to plan.

The company said that it expects to see earnings per share (EPS) in the range of $1.02 to $1.04 and $592.5 million in revenues. This compares with consensus estimates from Thomson Reuters of $0.80 in EPS on revenue of $588.36 million. The same period of last year reportedly had EPS of $0.20 and $549.33 million in revenue.

Management believes that this updated guidance demonstrates the earnings power of RH’s new membership model, and a dramatically more efficient operating platform. Adjusted net revenues for the quarter are expected to be up 8%, despite a 1% negative impact from hurricanes Harvey and Irma.

In this update, the company also mentioned that it has completed the planned closure of its distribution facility in Los Angeles and will be the closing its distribution center in Dallas by fiscal year end. In total the company will eliminate 1.75 million square feet of distribution space. And as a result it is expecting to save roughly $15 million annually.

The redesign of RH’s reverse logistics and Outlet business is now 90% complete. Liquidating customer returns in market and eliminating the need to transport product back to its distribution centers will drive cost savings and margin enhancement of $15 million to $20 million annually.

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Needless to say, this was a solid update from RH and a good sign to investors that it is moving in the right direction, especially after the year that the stock has seen already.

Keep in mind that this was a $25 stock back in February, notching a 171% gain year to date. Over the past 52 weeks, the stock is actually up about 150%.

Shares of RH were last seen up about 24% at $103.12, with a consensus analyst price target of $73.19 and a 52-week range of $24.41 to $103.99.