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Stock Market & Financial Investment News

News Breaks
January 17, 2013
10:07 EDTWSMWilliams-Sonoma falls after holiday sales report, levels to watch
Shares are down nearly 6% at time of writing after the company last night updated holiday sales revenue, which was up 4.8% and reaffirmed its outlook. This morning Raymond James and Goldman both cut recommendations to Market Perform and Neutral, respectively. The stock is now well below its 10-day moving average, last at $46.13 and now major resistance. At the current price of $44.40, next support is at $43.42.
News For WSM From The Last 14 Days
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October 31, 2014
06:07 EDTWSMWilliams-Sonoma to pay $700,000 penalty for faulty shades
The U.S. Consumer Product Safety Commission announced that Williams-Sonoma has agreed to pay a $700,000 civil penalty. The agreement resolves CPSC staff’s charges that the firm knowingly failed to report to CPSC immediately, as required by federal law, a defect involving Pottery Barn Kids Roman shades with exposed inner cords. Williams-Sonoma sold the Roman shades nationwide, through its Pottery Barn Kids brand, between January 2003 and November 2007, for $30 to $60. CPSC staff charged that the Pottery Barn Kids Roman shades posed a strangulation hazard to young children. By the time that Williams-Sonoma filed its full report with CPSC, seven consumers had reported that children had become entangled on the inner cords of the Pottery Barn Kids Roman shades. Williams-Sonoma ultimately recalled approximately 85,000 of the Roman shades in cooperation with CPSC. Williams-Sonoma has agreed to continue to maintain the compliance program and system of internal controls referenced in an earlier civil penalty settlement with CPSC, designed to ensure compliance with the safety statutes and regulations enforced by the Commission. In agreeing to the settlement, Williams-Sonoma neither admits nor denies CPSC staff’s charges.

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