Home Furnishing Retailer Williams-Sonoma Slumps After Dull Q2 Earnings; Slashes Annual Outlook
Portfolio Pulse from Nabaparna Bhattacharya
Williams-Sonoma's shares fell after reporting Q2 earnings that beat EPS estimates but missed sales expectations. The company revised its annual revenue outlook downward, projecting a decline instead of growth. Despite strong margins and liquidity, the stock dropped 8.68%.
August 22, 2024 | 2:01 pm
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Williams-Sonoma reported Q2 earnings that exceeded EPS expectations but fell short on sales. The company revised its annual revenue outlook downward, leading to an 8.68% drop in stock price.
The stock price decline is due to the company's revised annual revenue outlook, which now predicts a decline instead of growth. Despite beating EPS estimates, missing sales expectations and the negative outlook have led to a negative market reaction.
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