Williams-Sonoma (WSM.US) stock jumped over 8% in premarket trading after the company posted its financial results for the first quarter. Home goods retailer earned 74 cents per share excluding some items with revenue of $1.24 billion, flat in comparison with last year. Comparable brand revenue rose 2.6%. Meanwhile analysts polled by FactSet had expected earnings of 15 cents and revenue of $1.1 billion. Company reassured that it had a solid liquidity position strengthened by over $860 million in cash. Williams-Sonoma also reported a significant acceleration in e-commerce revenue that is still ongoing, according to a company statement. The company did not provide guidance due to the pandemic and "the continuing macroeconomic uncertainty that could impact its performance."
Williams-Sonoma (WSM.US) shares surged in extended trading after the company posted it quarterly results. Currently the price is trading around $79.00 per share, above it pre-pandemic levels. Source: xStation5
