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March 13, 2014
11:22 EDTWSM, KIRK, PIR, BBBY, RHWilliams-Sonoma soars to 52-week high after results top estimates
Shares of home goods retailer Williams-Sonoma (WSM) hit a new 52-week high after the company's fourth quarter results topped expectations. In addition to its flagship brand, the company also operates the West Elm and Pottery Barn collection of chains. WHAT'S NEW: Last night, Williams-Sonoma reported Q4 earnings per share of $1.38 and revenue of $1.47B, beating expectations of $1.36 and $1.43B, respectively. Q4 comparable brand revenue increased 10.4%. The company forecast Q1 EPS of 41c-44c and revenue of $920M-$940M, compared to consensus of 46c and $943.61M, respectively. Q1 comparable brand revenue is expected to increase 4%-6%. For FY14, Williams-Sonoma expects EPS and revenue of $3.05-$3.15 and $4.63B-$4.71B, versus consensus of $3.20 and $4.64B, respectively. FY14 comparable brand revenue is expected to increase 5%-10%. The company also raised its quarterly dividend to 33c from 31c per share. ANALYST REACTION: This morning, Citigroup removed Williams-Sonoma from its U.S. Focus list following the company's Q4 results, citing the stock's strong performance over the past year. However, the firm reiterated a Buy rating on shares with a $67 price target. Another firm, RW Baird, raised their price target on the shares to $70 from $64. The firm cited robust top-line trends, leverage to housing and e-commerce, and emerging international growth. RW Baird has an Outperform rating on Williams-Sonoma. PRICE ACTION: In late morning trading, Williams-Sonoma rose $5.95, or about 10%, to $64.92 on three times its average daily trading volume. The stock continues to make new 52-week highs as the session unfolds. Including today's advance, the stock has gained about 43% over the past twelve months. OTHERS TO WATCH: Other retailers specializing in home goods include Pier 1 Imports (PIR), Bed Bath & Beyond (BBBY), and Restoration Hardware (RH). Another company in the space, Kirklands (KIRK), also reported results this morning and its shares were up about 6% in late morning trading.
News For WSM;KIRK;PIR;BBBY;RH From The Last 14 Days
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July 21, 2014
09:01 EDTRHRestoration Hardware downgraded to Hold from Buy at BB&T
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July 17, 2014
10:41 EDTBBBYBed Bath & Beyond announces $1.1B accelerated share repurchase
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10:00 EDTWSM, PIR, BBBYOn The Fly: Analyst Initiation Summary
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July 16, 2014
17:25 EDTBBBYBed Bath & Beyond initiated with a Neutral at Nomura
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17:25 EDTWSMWilliams-Sonoma initiated with a Buy at Nomura
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17:24 EDTRHRestoration Hardware initiated with a Buy at Nomura
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17:24 EDTPIRPier 1 Imports initiated with a Buy at Nomura
Target $22.
July 15, 2014
06:04 EDTBBBYStocks with implied volatility below IV index mean; BBBY SHPG
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05:42 EDTBBBYBed Bath & Beyond announces planned $1.1B accelerated share repurchase
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July 14, 2014
13:14 EDTBBBYBed Bath & Beyond may be subject of investor activism, says Wells Fargo
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06:03 EDTBBBYStocks with implied volatility below IV index mean; BBBY SHPG
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05:49 EDTBBBYStocks with implied volatility movement; BBBY CWH
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July 13, 2014
15:54 EDTBBBYGameStop, TJX, Staples, three other retailers look cheap, Barron's says
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July 11, 2014
11:17 EDTBBBYHigh option volume stocks
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10:45 EDTBBBYBed Bath and Beyond calls active on speculation of a large investor stake
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10:37 EDTBBBYRumor: Bed Bath & Beyond moves up on speculation of a large investor stake
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06:00 EDTBBBYStocks with implied volatility below IV index mean; RAD BBBY
Stocks with implied volatility below IV index mean; Rite Aid (RAD) 36, Bed Bath & Beyond (BBBY) 18 according to iVolatility.
July 10, 2014
06:02 EDTBBBYStocks with implied volatility below IV index mean; PETM BBBY
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July 9, 2014
12:38 EDTRH, WSMContainer Store issues appear company specific, says Wells Fargo
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06:03 EDTBBBYStocks with implied volatility below IV index mean; LULU BBBY
Stocks with implied volatility below IV index mean; lululemon (LULU) 37, Bed Bath & Beyond (BBBY) 18.
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