Why Williams-Sonoma Stock Rallied 18% at the Open Today
Shares of Williams-Sonoma (NYSE: WSM) jumped an impressive 18% in early trading on March 18. The big news was the furniture retailer's after-the-close earnings release on March 17. But that's not the only news it put out yesterday.
The fourth quarter of 2020 was a strong one for Williams-Sonoma, which reported "comparable brand revenue growth" of nearly 26% year over year. That strength was widespread across its nameplates: Sales were up 26.2% at Williams-Sonoma, they were up 25.7% at Pottery Barn, Pottery Barn Kids and Teen experienced a 25.7% advance, and West Elm's sales rounded things out with a rise of 25.2%. Online "comparable brand revenue growth" was up nearly 48%, with e-commerce penetration stable at around 70% of revenues. Adjusted earnings, meanwhile, came in at $3.95 per share, up 85% from the prior year and 16.5% above analyst expectations. Investors were clearly and rightly pleased with this news.
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Source Fool.com
