Williams-Sonoma Inc. (NYSE: WSM) saw a surge in shares following the fourth-quarter report. During the period COVID-19, WSM’s revenues significantly increased and continued their upward trend. The stock of Williams-Sonoma Inc. closed at $174.84, up 8.21% on Friday.
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The share price of WSM stock has increased 356.98% in the past 12 months. During the last week’s trades and for the previous 30 trades, the stock gained 29.43% and 37.20%, respectively. Over the last three months, however, the share price gained 55.62% in total value, and the previous six months have seen its value increase 95.09%.
Sales rose 23.4% year-on-year to $ 2.3 billion, and profit rose 85.0% to $3.95 per share. For Williams-Sonoma, this quarter was one of the most profitable in history. Total revenue grew 15% to $6.78 billion, and adjusted profit doubled to $9.04 million. The cash and equivalent stock exceeded $1.2 billion.
Additionally, an 11% rise in dividends and repayment of 300 million in loans were good news for investors.
Compared to previous years, Williams-Sonoma’s revenues and profits will most probably grow lower in 2021. However, the positive momentum somewhat slowed, maybe bolstered by an increase in social activity and an increase in optimism. Moreover, Williams-Sonoma expects to make a gross profit of about $ 10 billion in five years. That is the main reason for the quotes’ growth.
More than a hundred Williams-Sonoma stores are located in the United States and abroad and offer furniture, kitchenware, home furnishings, and more. There are many famous furniture brands, including Pottery Barn, Pottery Barn Kids, PBteen, West Elm, Mark and Graham, and Rejuvenation.