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

RTTNews | 757 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 | 1214 days ago
European Stocks Fall As Central Bank Signals Weigh On Sentiment

European Stocks Fall As Central Bank Signals Weigh On Sentiment

European stocks declined Friday amid caution over monetary policy and inflation outlooks from major central banks. The ECB survey showed Euro Zone inflation expectations rose to 3% from 2.9%, while the Bank of Japan raised rates by 25 basis points.
RTTNews | 3 minutes ago
U.S. Leading Economic Index Unexpectedly Edges Lower In August

U.S. Leading Economic Index Unexpectedly Edges Lower In August

A report released the Conference Board on Friday unexpectedly showed a modest decrease by its reading on leading U.S. economic indicators in the month of August. The Conference Board said its leading economic index edged down by 0.1 percent in August after rising by 0.2 percent in July. Economists had expected the index to inch up by 0.1 percent.
RTTNews | 3h 38min ago
U.S. Industrial Production Unexpectedly Flat In August

U.S. Industrial Production Unexpectedly Flat In August

With a jump in utilities output offset by a decrease in manufacturing output, the Federal Reserve released a report on Friday showing U.S. industrial production unexpectedly came in flat in the month of August. The Fed said industrial production was unchanged in August after rising by an unrevised 0.2 percent in July. Economists had expected industrial production to climb by 0.3 percent.
RTTNews | 3h 46min ago
UK Retail Sales Recover Unexpectedly

UK Retail Sales Recover Unexpectedly

UK retail sales rebounded unexpectedly in August underpinned by online shopping and warm weather boosted sales of seasonal items, data from the Office for National Statistics revealed Friday. Retail sales grew 0.5 percent on a monthly basis, offsetting July's 0.5 percent fall. Sales were expected to drop 0.2 percent.
RTTNews | 4h 29min ago
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian stocks are likely to open on mixed note on Friday, with investors tracking commodity prices and assessing recent monetary policy moves and weighing inflation outlook. Activity for most part of the session could be a bit lackluster amid a lack of fresh data or corporate news.
RTTNews | 5h 4min ago
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