Why Williams-Sonoma Stock Absolutely Skyrocketed to an All-Time High Today

Shares of home-goods retailer Williams-Sonoma (NYSE: WSM) absolutely skyrocketed on Wednesday after the company reported financial results for the third quarter of 2024. As of noon ET, Williams-Sonoma stock was up 31% and hitting all-time highs.Williams-Sonoma stock is now up 77% so far in 2024 and up 100% over the past year. But its full-year revenue is expected to drop 1.5% to 3% compared with 2023 -- hardly what one would expect for a company with a soaring stock price. The story here isn't revenue, but rather strong profits and returns to shareholders.Even though its Q3 revenue was modestly down, Williams-Sonoma was able to slightly boost its gross margin, in part thanks to some improvements in its supply chain. And by keeping operating expenses in check, it had operating income of $321 million for the quarter, which was a strong margin of nearly 18%.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool