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Stock Market & Financial Investment News

News Breaks
March 13, 2014
11:22 EDTRH, KIRK, BBBY, WSM, PIRWilliams-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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February 25, 2015
09:36 EDTBBBYBed Bath & Beyond Q4 comp sales trending below conensus, says Cleveland Research
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February 23, 2015
10:25 EDTKIRKKirkland's management to meet with Sidoti
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February 20, 2015
10:46 EDTWSMWest Coast dockworkers have not reached labor deal, CNBC reports
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10:11 EDTWSMWest Coast dockworkers reported to strike labor deal, CNBC says
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February 18, 2015
10:42 EDTWSMApparel makers beyond Perry Ellis seen hurt by port slowdown
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10:05 EDTRHOn The Fly: Analyst Initiation Summary
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10:05 EDTWSMOn The Fly: Analyst Downgrade Summary
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07:29 EDTRHRestoration Hardware initiated with an Outperform at Cowen
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06:56 EDTWSMPiper cuts Williams-Sonoma on promotions, port situation
Piper Jaffray downgraded Williams-Sonoma to Neutral from Overweight saying promotional activity has picked up in the current quarter while furniture delivery delays may arise from the West Coast ports situation. Piper keeps an $84 price target on the home products retailer. Shares closed yesterday down 41c to $81.70.
05:45 EDTWSMWilliams-Sonoma downgraded to Neutral from Overweight at Piper Jaffray
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