Shares of Williams-Sonoma jumped Thursday after the retailer reported first-quarter earnings and revenue that easily beat analysts’ expectations.
At one point, Williams-Sonoma stock was up more than 15 percent in premarket trading following the report. It was up more than 11 percent shortly before the opening bell.
Here’s how the company did compared with what Wall Street expected:
- Adjusted earnings: 67 cents per share vs. 58 cents per share forecast by Thomson Reuters
- Revenue: $1.20 billion vs. $1.16 billion forecast by Thomson Reuters
Same-store sales were up 5.5 percent for the quarter, while merchandise inventories at the end of the quarter increased 1.5 percent to $1.053 billion.
William-Sonoma boosted the range of its full-year forecast to $4.15 to $4.25 a share on expected revenue of $5.495 billion to $5.655 billion. Analysts polled by Thomson Reuters expected full-year earnings of $4.18 on revenue of $5.57 billion.
The retailer also gave strong revenue guidance for the second quarter, saying it now expects revenue of $1.25 billion to $1.275 billion, compared with expectations of $1.24 billion.