Williams-Sonoma shares bounce 10% as e-commerce gross sales drive earnings shock
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5:45 pm ET — Williams-Sonoma shares bounce 10% in prolonged buying and selling after earnings confirmed stunning power.
All of its 616 shops have been closed for greater than half the quarter, however the firm was nonetheless in a position to develop same-store gross sales 2.6%.
It is on-line enterprise kicked into overdrive, with income up greater than 30%. The retailer stated it was to faucet into “a newfound appreciation for the house” amongst customers. Practically all of its manufacturers confirmed development, with Pottery Barn Youngsters same-store gross sales up 8.5%, Williams-Sonoma up 5.4% and West Elm up 3.3%. CEO Laura Alber says the corporate has “much more confidence within the development trajectory” of its e-commerce enterprise long run because it was in a position to win new clients and nonetheless sees its gross sales accelerating within the present quarter. —Christina Cheddar Berk
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