Why Williams-Sonoma's Shares Are Down Sharply Today
Shares of Williams-Sonoma (NYSE: WSM) were down sharply at midday on Thursday, as growing concerns about the COVID-19 pandemic's effects on businesses drove a broad-based market sell-off.
As of 12:30 p.m. EDT, Williams-Sonoma's shares were down about 12.5% from Wednesday's closing price.
Simply put, investors in retail companies like Williams-Sonoma are worried that if everyone stays home for several weeks to slow the spread of the novel coronavirus, brick-and-mortar stores that rely on foot traffic will suffer steep sales declines.
Source Fool.com