With families spending more time at home than ever before, furnishing home offices and upgrading kitchens have become a top priority for stay-at-home shoppers. And that has been great news for Williams-Sonoma (NYSE:WSM)
The 65-year-old retailer sells home goods, high-end cookware and furniture through its seven brands including Pottery Barn, Williams Sonoma and West Elm.
Thanks to a strong e-commerce business and a demand for all things home-related, the company posted a 22% jump in revenue in the third quarter of 2020 from a year earlier.
But analysts say the company faces headwinds as home furnishing sales shift even further online and rivals like online furniture retailer Wayfair increase their market share.
WSM made waves last week with the launch of a new collaboration in partnership with award-winning actress, author, and activist Marlo Thomas.
"An avid tabletop collector and enthusiastic hostess," reads the pres release, "with a deep appreciation for versatility and functionality, Marlo drew inspiration for her first home entertaining collection from the unique pieces she has discovered over her decades of world travel.
"From the porcelain markets in Kyoto, Japan, to the iconic Portobello Road market in London, Marlo has assembled a treasure trove of beloved tabletop items that she has drawn inspiration from for Williams Sonoma and Pottery Barn customers."
WSM shares fell $2.62, or 2.1%, to $125.02.
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