Subscribe to Updates

    Get the latest news from Legacy Medi4!

    Our Picks

    India’s Adani’s losses swell above $100bn | Business and Economy News

    February 2, 2023

    Philips air fryer deals: Save almost 50% off at Amazon

    February 2, 2023

    British tennis sees rise in women and children participation during 2022 | Tennis News

    February 2, 2023

    Woman Wins $100K Lottery While Taking Break From ‘Tough Day’

    February 2, 2023
    Facebook Twitter Instagram
    • Privacy Policy
    • Contact Us
    • About Us
    • Disclaimer
    Facebook Twitter Instagram YouTube
    Legacy Medi4Legacy Medi4
    • World News
    • Business
    • Entertainment
    • Health
    • Science
    • Sports
    • Technology
    Legacy Medi4Legacy Medi4
    Home»Business»Williams-Sonoma falls sharply after pulling FY24 guidance (NYSE:WSM)
    Business

    Williams-Sonoma falls sharply after pulling FY24 guidance (NYSE:WSM)

    Todd LivingstonBy Todd LivingstonNovember 17, 2022No Comments1 Min Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Trisha

    Daniel Boczarski

    Williams-Sonoma (NYSE: WSM) fell after a slight miss with Q3 EPS and guidance changes that disappointed investors.

    Comparable revenue growth was 8.1% for the quarter vs. + 6.7% agreement and was 25% more than the estimate of two years. Similar type revenue was up 4.2% at West Elm, up 19.6% at Pottery Barn, down 4.8% at Pottery Barn Kids and Teens and down 1.5% at the Williams Sonoma brand. CEO Laura Alber said the quarter’s results reflect continued order fulfillment, strong product margins and cost control.

    The retailer reported that non-GAAP gross margin fell 60 bps to 15.5% of sales. During the quarter, WSM saw higher shipping and handling costs while sales margins were lower than last year with a 30 bps increase.

    Williams-Sonoma ( WSM ) reiterated its FY22 guidance for mid-to-high annual revenue growth and said it expects operating margins to be in line with FY21 margins. Due to high uncertainty, WSM said it will not revise or change guidance through FY24.

    Williams-Sonoma (WSM) 10.66% in trading after a few hours up to $116.25.

    The Seeking Alpha Quant Rating on Williams-Sonoma jumped to Strong Buy from Hold on November 14.

    Source link

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Todd Livingston

    Related Posts

    Alphabet CEO Pichai touts AI, but says business is ‘more challenging’ (NASDAQ:GOOG)

    February 2, 2023

    Amazon moves lower on mixed earnings result, slowing growth (NASDAQ:AMZN)

    February 2, 2023

    FirstEnergy to sell additional 30% stake in FET business to Brookfield for $3.5B (NYSE:FE)

    February 2, 2023

    Leave A Reply Cancel Reply

    Our Picks

    India’s Adani’s losses swell above $100bn | Business and Economy News

    February 2, 2023

    Philips air fryer deals: Save almost 50% off at Amazon

    February 2, 2023

    British tennis sees rise in women and children participation during 2022 | Tennis News

    February 2, 2023

    Woman Wins $100K Lottery While Taking Break From ‘Tough Day’

    February 2, 2023

    Subscribe to Updates

    Get the latest news from Legacy Medi4!

    Our Picks

    India’s Adani’s losses swell above $100bn | Business and Economy News

    February 2, 2023

    Philips air fryer deals: Save almost 50% off at Amazon

    February 2, 2023

    British tennis sees rise in women and children participation during 2022 | Tennis News

    February 2, 2023

    Type above and press Enter to search. Press Esc to cancel.