Williams-Sonoma shares surge after big earnings beat and raised guidance

Shares of Williams-Sonoma jumped on Thursday after the retailer reported first-quarter earnings and revenue that easily beat analysts’ expectations.

Williams-Sonoma stock was up more than 15 percent in premarket trading following the report.

Here’s how the company did compared with what Wall Street expected:

  • Adjusted earnings: 67 cents per share vs. 58 cents per share forecast by Thomson Reuters
  • Revenue: $1.20 billion vs. $1.16 billion forecast by Thomson Reuters

Same-store sales were up 5.5 percent for the quarter, while merchandise inventories at the end of the quarter increased 1.5 percent to $1.053 billion.

William-Sonoma boosted the range of its full-year forecast to $4.15 to $4.25 a share on expected revenue of $5.495 billion to $5.655 billion. Analysts polled by Thomson Reuters I/B/E/S expected full-year earnings of $4.18 on revenue of $5.57 billion.

The retailer also gave strong revenue guidance for the second quarter, saying it now expects revenue of $1.25 billion to $1.275 billion, compared with expectations of $1.24 billion.

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