We recently published a list of Pulse of the Market: Wednesday’s 10 Worst Performers. In this article, we are going to take a look at where Williams-Sonoma Inc. (NYSE:WSM) stands against other Wednesday’s worst performers.
Shares on Wall Street bounced back from a bloodbath, with all main indices ending in the green on Wednesday, as investors cheered the Federal Reserve’s decision to keep interest rates unchanged.
The tech-heavy Nasdaq led the gains, rallying 1.41 percent, followed by the S&P 500 with a 1.08 percent gain, and the Dow Jones, by 0.92 percent.
Meanwhile, 10 companies defied overall market optimism, booking losses during the trading session. In this article, let’s take a look at the 10 worst-performing stocks and explore the reasons behind their drop.
To come up with the list, we considered only the companies with a $2-billion market capitalization and $5 million in trading volume.
An interior of a modern home with a wide selection of cookware, tools and cutlery on display.
Williams-Sonoma Inc.
Williams-Sonoma dropped for a second day on Wednesday, losing 3.49 percent to finish at $166.27 each as investors sold off positions following a cautious outlook for its business.
WSM, which operates home furnishing stores such as Pottery Barn, and West Elm, among others, said that it expects full-year revenues to land in the range of plus or minus 1.5 percent, with a flat same-store sales growth (SSSG).
Meanwhile, Wall Street analysts expect sales to grow a bit better, with SSSG of 1.53 percent.
The bearish outlook overshadowed the company’s impressive earnings performance during the last quarter of the year, having booked revenues of $2.46 billion versus the $2.35 billion estimated by analysts.
“We have been, and will continue to be, focused on returning to growth,” said WSM CEO Laura Alber in a statement.
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This article is originally published at Insider Monkey.