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Aug 22, 2024 10:10 AM

Home Furnishing Retailer Williams-Sonoma Slumps After Dull Q2 Earnings; Slashes Annual Outlook

Williams-Sonoma, Inc. (NYSE:WSM) shares are trading lower on Thursday.

The company reported second-quarter adjusted earnings per share of $1.74, beating the analyst consensus of $1.59. Quarterly sales of $1.788 billion missed the street view of $1.811 billion.

“In Q2, our comp came in at -3.3%, and we exceeded profitability estimates with an operating margin of 16.2% and earnings per share of $1.74, reflecting the 2-for-1 stock split we completed in July,” said Laura Alber, President and Chief Executive Officer.

The gross margin ...