Diamonds and Dogs
Williams-Sonoma (WSM) jumping 10% thanks to strong earnings. The owner of not only Williams Sonoma, but Potter Barn as well saw earnings easily beat expectations as sales rose 8.2% to $1.2 billion ahead of estimates. The company also raised guidance for the full year as same store sales jumped 5.5% and operating margins rose year over year for the first time since 2014. Telsey Advisory Group upgraded the stock with $64 price target.
Best Buy (BBY) is lower by 7% even as earnings and sales beat expectations. Revenues rose 6.8% to $9.11 billion. The company also reiterated current quarter and full year guidance, but investors are selling the stock due to a gross margin running 10 basis points below consensus and a deceleration in online revenue growth from a 20%+ run rate in recent quarters to 12% for 2019.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.