What's Cooking at Williams-Sonoma?
Year-to-date, the consumer discretionary sector has been the third best performing sector, up 21%. The sector is led by strong back-to-school sales and huge moves from stocks like Williams-Sonoma (WSM), which up 30% since the end of July.
In July, Williams-Sonoma beat second-quarter sales estimates on slightly higher gross margins. It was the first time in three quarters that gross margins were up. Revenue rose 7.2% to $874 million. Operating margins rose to 8% from 7.9% last year. Management guided third-quarter earnings per share (EPS) to between $0.43 and $0.46 and fiscal 2013 to a mid point of $2.47. The company believes fiscal 2013 revenue will be between $3.975 billion and $4.025 billion....195 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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