It has been able to pull back on promotions. The firm rates the company outperform.įernandez said the company has had an advantage because home goods demand has been so hot. She raised Williams-Sonoma's price target after it reported earnings last week from $220 to $250, which is about 19% above where it's currently trading. They'll do the kitchen and then say 'I have a nice kitchen, let me do the next room.'' 'When people move, typically they furnish homes in piecemeal,' she said. Many Americans are still decorating the larger homes or second homes that they purchased during the pandemic. Impressing friends with cooking skillsĬristina Fernandez, a senior research analyst at the Telsey Advisory Group, said the company has room to run with furniture sales, in particular. On Thursday, the retailer raised its fiscal 2021 outlook, predicting revenue will rise 22% to 23% from the prior year. This year, growth will be even more robust. Macro trends like a strong housing cycle will provide further support. It expects to hit $10 billion in revenue by 2024, as it benefits from its in-house design and investments in digital. In the coming years, Williams-Sonoma expects its annual revenue to grow at a mid-to-high single digit pace. Those trends, it expects, will give it an opportunity that will last after the holidays are over. Yet the home retailer said Americans still have a big appetite for cooking, entertaining and sprucing up their homes. The stock hit a 52-week high of $223.32 on Monday, but was recently trading Wednesday at around $210, giving it a market cap of about $15.6 billion. Shares of the company have more than doubled in value since January. Along with its flagship banner, the parent company owns other brands like Pottery Barn and West Elm. Williams-Sonoma, in particular, has been on a tear over the past year as stay-at-home orders turned many Americans into amateur chefs, inspiring them to pick up cooking and baking as hobbies and buy new furniture and decor. Personal Loans for 670 Credit Score or Lower

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