Here is why Williams-Sonoma Inc. (WSM) stock rallied on Wednesday?

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Williams-Sonoma Inc. (WSM) surged 12.66% in after-hours on Wednesday, August 25, 2021, and closed the daily trading at $192.35. In the regular trading session on Wednesday, WSM’s stock gained 0.70%. WSM shares have risen 79.05% over the last 12 months, and they have moved up 4.87% in the past week. Over the past three months, the stock has lost 0.32%, while over the past six months, it has declined 33.12%.

Let’s see what are the latest news about the company?


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WSM latest announcement

On August 25, 2021, Williams-Sonoma, Inc (WSM) announced its financial results for the second fiscal quarter that ended August 1, 2021.

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Q2 2021 financial highlights

  • WSM reported net revenue of $1.95 billion for Q2 2021 compared to $1.5 billion in Q2 2020.
  • Gross profit was $858.4 million in Q2 2021 compared to $551 million in Q2 2020.
  • Selling, general and administrative expenses were $535.3 million in Q2 2021 compared to $365.84 million in Q2 2020.
  • Net earnings were $246 million in Q2 2021 compared to $134.56 million in Q2 2020.

WSM New appointments

On August 05, 2021, Williams-Sonoma, Inc. (WSM) appointed Paula Pretlow to its Board of Directors and will also become a member of the Company’s Audit and Finance Committee. Ms. Pretlow is a former Senior Vice President of The Capital Group, where she led the firm’s public fund business development and client relationship group.

Earlier on August 1, 2021, Jason Edelman joined the WSM leadership team as the Senior Vice President of the Williams Sonoma Home brand. Jason has more than 20 years of experience in growing and leading premium hard goods businesses for retail stores, e-commerce, and catalogs. Jason was SVP, Merchandising, Furniture for Restoration Hardware, before joining Williams-Sonoma.

WSM fundraising program

On July 19, 2021, Williams Sonoma, (WSM) launched its seventh annual Tools for Change fundraising program benefiting No Kid Hungry, a national campaign to end childhood hunger in America. The goal for this year’s campaign is to raise more than $3.5 million to help children in need.

WSM annual impact report

On July 06, 2021, Williams-Sonoma, Inc released the company’s Annual Impact Report and announced several new ambitious goals to further differentiate WSI as the industry leader of sustainable home furnishings.

Williams-Sonoma, Inc. is one of the first in its industry to work with the Science-Based Targets initiative to reduce its emissions in line with climate science.

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Conclusion

The WSM stock surged after the company announced impressive financial figures for Q2 2021 which beat the analyst’s estimates. we can expect it to continue its positive momentum on Thursday as well.

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