Williams-Sonoma Inc. (NYSE: WSM) said on Wednesday that its fourth-quarter profit and sales came in better than expected as the ongoing Coronavirus pandemic fuelled demand for kitchen-wares and home furnishings in recent months.
Williams-Sonoma shares were reported a little under 15% up in extended trading on Wednesday. Including the price action, the stock is now trading at a per-share price of £110.26 versus £73.71 per share at the start of 2021. Here’s what you need to know about stocks and the stock market.
Williams-Sonoma Q4 financial results versus analysts’ estimates
Williams-Sonoma said that its net earnings in the fourth quarter printed at £221.24 million that translates to £2.81 per share. In the comparable quarter of last year, its net earnings were capped at a much lower £118.85 million, or £1.50 per share.
On an adjusted basis, the San Francisco-based company earned £2.83 per share in Q4. Williams-Sonoma valued its revenue in the recent quarter at £1.64 billion – an increase from £1.32 billion last year.
According to FactSet, experts had forecast the company to post £1.57 billion of net revenue in the fourth quarter. Their estimate for adjusted per-share earnings stood at a lower £2.42. In separate news from the United States, chipmaker Micron Technology said on Tuesday that it intends to put its Utah-based chip factory up for sale.
Williams-Sonoma also said on Wednesday its comparable brand revenue growth jumped to 25.7% in Q4. eCommerce comparable brand revenue growth also saw an increase to 47.9% in the recent quarter. The U.S. firm’s gross margin registered at 42.1%.
Chief Executive Laura Alber’s comments on Wednesday
CEO Laura Alber commented on the earnings report on Wednesday and said:
“These record results reflect the power of our three key differentiators, which set us apart and have become increasingly relevant. They are, our in-house design, our digital-first channel strategy, and our values. We will continue to invest in these differentiators to drive growth and gain market share.”
Williams-Sonoma’s financial update comes on the same day when the American chain of discount stores, Five Below Inc., also published market-beating results for its fiscal fourth quarter.
Williams-Sonoma performed largely upbeat in the stock market last year with an annual gain of close to 40%. At the time of writing, the consumer retail company has a market cap of £7.48 billion and a price to earnings ratio of 20.03.
The post Williams-Sonoma reports better than expected sales and profit in Q4 appeared first on Invezz.
from USA – Invezz https://ift.tt/2Q7mliO
Wajeeh Khan
Click here to Join RICH DAD SUMMIT online with ROBERT KIYOSAKI - $1 Training for Passive Income: https://bit.ly/RichDadSummitWealthTraining
0 Comments