Williams-Sonoma Learned Well From the Economic Downturn
Wall Street Cheat Sheet submits:
Upscale home-products retailer Williams-Sonoma, Inc. (WSM) beat Wall St. estimates Monday before the bell, indicating yet again that recent better-than-expected retail sales data may be the real deal, and that the U.S. consumer may finally be turning the corner. The company, which also operates the Pottery Barn, Pottery Barn Kids and West Elm, reported fiscal Q1 EPS of $0.86/shares on $1.09 billion in revenue vs. profits of $0.12/share on $1 billion in revenue for the same quarter last year.
You’d be right to think that any comparison to Q1 last year would be sure to turn out favorable for a retailer of pricey home furnishings, but when you consider that analysts had WSM pegged at EPS of just $0.73, one must admit that they’re moving inventory a lot faster than people thought they could. And if what they’re moving is $99 cutting boards (on sale!), well then we might just have a situation on our hands, and a good one at that.
Investing, Long Term Investment, stock market | admin March 23, 2010
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