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Retailer Williams-Sonoma Soars Midday on Strong Earnings

Investing.com

Investing.com - Williams-Sonoma was among the top movers in midday trading Friday after its earnings came in stronger than expected.

The retailer reported net revenue of $1.24 billion, while adjusted earnings per share were $0.81, compared to $0.54 in the year-ago period. Both topped expectations of analysts surveyed by Investing.com.

The company was recently added to the Fortune 500, which CEO Laura Alber cited as a sign of its success.

“This accomplishment speaks to the hard work and dedication of all our associates, the ongoing support of our loyal customers and the power of our highly differentiated platform in driving long-term, profitable growth,” he said.

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Williams-Sonoma (NYSE:WSM) jumped 12% in midday trade, while elsewhere in the sector, Bed Bath & Beyond (NASDAQ:BBBY) fell 0.9% and Home Depot (NYSE:HD) slipped 0.8%.

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