5 Stocks Drawing Attention on Quarterly Results

4. Williams-Sonoma, Inc. (NYSE:WSM)

Number of Hedge Fund Holders: 38

Shares of Williams-Sonoma, Inc. (NYSE:WSM) rose over seven percent in the pre-market trading session on Thursday, May 26, 2022, after the home furnishing retailer posted solid profit and sales for its fiscal first quarter.

Williams-Sonoma, Inc. (NYSE:WSM) earned $3.50 per share on an adjusted basis, up from $2.93 per share in the comparable period of 2021. Revenue came in at $1.89 billion, representing a surge of 8.1 percent over the year-ago period. The results exceeded analysts’ average estimate of $2.88 per share for earnings and $1.81 billion for revenue.

Comparable brand sales increased 9.5 percent, with a surge of 14.6 percent and 12.8 percent at Pottery Barn and West Elm, respectively. Among other updates, Williams-Sonoma, Inc. (NYSE:WSM) reported that its gross margin rose by 80 basis points to 43.8 percent in the quarter.

Speaking on the results, CEO Laura Alber said:

“We have a solid line-up of growth initiatives and operational improvements planned for the balance of the year. And, as we look further, we are confident in our path to be a $10 billion company by 2024.”