Williams-Sonoma, Inc. (NYSE:WSM) shares enjoyed healthy on the release of operating results for the first fiscal quarter.
Net revenue growth was 3.2% to $1.241 billion. Comparable brand revenue growth of 3.5%, including double-digit comparable growth for West Elm
The San Francisco-based company CEO Laura Alber commented, "We have had a strong start to 2019 with comparable revenue growth of 3.5%, operating margin expansion and significant EPS growth. Customer acquisition and engagement continued to grow as we delivered more compelling and differentiated experiences to our customers."
Alber continued, "Given our strong start to the year and the strength we are seeing early in the second quarter, we are raising our full-year EPS guidance by $0.05. We believe we are uniquely positioned to capture the significant opportunities we see in the home furnishings industry, and we will continue to build on our strong momentum to achieve our goal of maximizing growth and maintaining high profitability."
Gross profit came in at $444.3 million, a 35.8% improvement over the same quarter last year. Net earnings registered $52.6 million, a jump of 4.2% over the prior-year quarter.
Williams-Sonoma, Inc. is a specialty retailer of high-quality products for the home. These products, representing distinct merchandise strategies — Williams Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, Pottery Barn Teen, Williams Sonoma Home, Rejuvenation, and Mark and Graham — are marketed through e-commerce websites, direct-mail catalogs and retail stores.
Shares gained $6.98, or 13.5%, to $58.57
