Williams-Sonoma Earnings: Here’s Why the Stock is Rising Now
Williams-Sonoma Inc. (NYSE:WSM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.46%.
Williams-Sonoma Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 13.95% to $0.49 in the quarter versus EPS of $0.43 in the year-earlier quarter.
Revenue: Rose 12.34% to $982.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Williams-Sonoma Inc. reported adjusted EPS income of $0.49 per share. By that measure, the company beat the mean analyst estimate of $0.47. It beat the average revenue estimate of $939.99 million.
Quoting Management: “We believe there is a significant opportunity to extend the reach of our brands globally,” said Laura Alber, President and Chief Executive Officer of Williams-Sonoma, Inc. “The Philippines is a natural market for us, with a strong, steadily growing economy and consumer interest in high-quality, stylish home products. We are pleased to partner with SSI, a company with demonstrated success developing well-known brands in the Philippines and a deep understanding of the local customer base. We are confident they are the right partner to introduce our brands to the Philippines market and deliver on our company promise to enhance customers’ lives at home.”
Key Stats (on next page)…