Williams-Sonoma Q1 Adj. EPS Tops Estimates

RTTNews | 780 days ago
Stocktwits
Williams-Sonoma Q1 Adj. EPS Tops Estimates

(RTTNews) - Luxury home furnishing retailer Williams-Sonoma Inc. (WSM) reported Tuesday first-quarter net earnings of $156.53 million or $2.35 per share, down from $254.11 million or $3.50 per share in the prior-year quarter.

Adjusted earnings for the quarter were $2.64 per share, compared to $3.50 per share last year. On average, 20 analysts polled by Thomson Reuters expected the company to report earnings of $2.37 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net revenues for the quarter decreased to $1.76 billion from $1.89 billion in the same quarter last year. Analysts had a consensus revenue estimate of $1.79 billion for the quarter.

Comparable brand revenue declined 6.0 percent.

Looking ahead to fiscal 2023, the company still expects net revenue growth in the range of -3% to +3%. The Street is looking a 4.0 percent revenue decline to $8.33 billion for the quarter.

For the long term, the company expects mid-to-high single-digit annual net revenue growth.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: WSM
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UK Economy Contracts For Second Straight Month

UK Economy Contracts For Second Straight Month

The UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in meeting her self-imposed borrowing rules. Gross domestic product fell unexpectedly by 0.1 percent in May, following a 0.3 percent drop in April, data from the Office for National Statistics revealed on Friday.
RTTNews | 11 minutes ago
CAC 40 Down More Than 1% As Trade War Concerns Hurt Sentiment

CAC 40 Down More Than 1% As Trade War Concerns Hurt Sentiment

French stocks are notably lower on Friday, weighed down by losses in automobile and luxury sectors. The mood in the market is a bit bearish, in line with other major markets in Europe, amid renewed worries about tariffs.
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Walmart Recalls 850K Ozark Trail Water Bottles

Walmart Recalls 850K Ozark Trail Water Bottles

Retain giant Walmart Inc. is recalling about 850,000 Ozark Trail 64 oz Stainless Steel Insulated Water Bottles as the lid can suddenly pop off with force, causing injury, according to the U.S. Consumer Product Safety Commission. The recall includes Water Bottles sold under model number 83-662. These silver stainless-steel bottles feature a black one-piece screw-on lid.
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