Shares of Williams-Sonoma Inc. (NYSE:WSM) soared on a quarterly report which exceeded analysts estimates for the fourth quarter. E-commerce sales led the way for the company.
Analysts had estimated a profit of 98 cents a share in the period, which ended Jan. 30.
The company - owner of Pottery Barn and West Elm, in addition to the Williams-Sonoma stores - is relying on Internet orders to pull out of a sales slump. E-commerce has become Williams-Sonoma’s fastest-growing area, as well as its most profitable, Laura Alber, president and chief executive officer, said on a conference call. That’s benefiting all of its chains.
“Each of our brands ended the year stronger than it began,” she said on the call.
Williams-Sonoma closed Tuesday at $39.38, gaining $4.40, or 12.58 percent.
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Wednesday, March 16, 2011
Williams-Sonoma (WSM) Surges on Big Quarterly Win
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Earnings,
Williams-Sonoma
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