Williams-Sonoma Slashes FY24 Revenue Outlook As Q2 Revenues Miss Estimates

RTTNews | 323 days ago
Stocktwits
Williams-Sonoma Slashes FY24 Revenue Outlook As Q2 Revenues Miss Estimates

(RTTNews) - Luxury home furnishing retailer Williams-Sonoma Inc. (WSM) reported Thursday that net earnings for the second quarter grew to $225.75 million or $1.74 per share from $201.51 million or $1.56 per share in the prior-year quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $1.60 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net revenues for the quarter decreased to $1.79 billion from $1.86 billion in the same quarter last year. Analysts had a consensus revenue estimate of $1.81 billion for the quarter.

Comparable brand revenue declined 3.3 percent.

Looking ahead to fiscal 2024, the company now expects net revenue to decline 4 to 1.5 percent, with comparable brand revenue decline of 5.5 to 3.0 percent. Previously, the company expected net revenue between a decline of 3 percent and a growth of 3 percent, with comparable brand revenue between a decline of 4.5 percent and a growth of 1.5 percent. The Street is looking for flat revenues of $7.75 billion for the quarter.

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

Tags: WSM
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Williams-Sonoma Q1 Adj. EPS Tops Estimates

Williams-Sonoma Q1 Adj. EPS Tops Estimates

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.
RTTNews | 780 days ago
Bay Street Likely To Open Lower

Bay Street Likely To Open Lower

Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.
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The British pound weakened against other major currencies in the European session on Friday, as the UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in achieving her self-imposed borrowing rules.
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