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Shares of Williams-Sonoma (WSM) soared nearly 20% to an all-time high Wednesday as the high-end home accessories retailer posted better-than-expected results, and raised both its dividend and stock buyback plan.
Williams Sonoma, the homeware retailer, flew to all-time highs after it lifted 19% higher on Wednesday after its fourth-quarter update comfortably beat Wall Street consensus. Earnings per share during the period came in at US$5.44, lifting ahead of both market consensus and Goldman Sachs estimates of US$4.93 and US$5.12 respectively.
Williams-Sonoma's NYSE: WSM stock surge is due to its persistent outperformance and quality business. The company contracted in 2023 along with the housing market, but cash flow remained solid, driving substantial capital returns for investors.
The headline numbers for Williams-Sonoma (WSM) give insight into how the company performed in the quarter ended January 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Williams-Sonoma (WSM) came out with quarterly earnings of $5.44 per share, beating the Zacks Consensus Estimate of $5.06 per share. This compares to earnings of $5.50 per share a year ago.
Shares of Williams-Sonoma Inc. rallied into record territory Wednesday after the home-products retailer beat quarterly earnings expectations, with “full-price selling” and supply-chain improvements helping boost margins.
Investors looking for ways to find stocks that are set to beat quarterly earnings estimates should check out the Zacks Earnings ESP.
Williams-Sonoma, Inc. (NYSE:WSM) stock has distanced itself from its Jan. 24, two-year high of $212.52, though it was last seen up 1.9% at $197.02.
The market is usually ahead of the curb when it comes to a stock's price action. In the case of Williams-Sonoma NYSE: WSM, a recent 6.6% sell-off in the stock has caused a lot of investors to wonder if there is anything to be worried about.
Williams-Sonoma CEO Laura Alber joins 'Squawk on the Street' from Davos to discuss the state of retail, whether there will be a bottoming in consumer spending, and what's driving the company's upside.