NEW YORK (TheStreet) -- Williams-Sonoma (WSM) shares are up 5.02% to $81.80 in after-hours trading on Wednesday after the e-commerce retailer reported its first quarter earnings results after the closing bell today.
The San Francisco-based company reported first quarter net income of 48 cents per share, the same amount it reported in the year ago period, and 4 cents better than the 44 cents per share analysts at Zacks forecast.
Net retail revenue for the period rose 3.1% year over year to $498 million while total net revenue rose to $1.031 billion, ahead of analysts' $1 billion estimates for the period.
"Our first quarter results were better than we expected, driven by West Elm and our new businesses, as well as strong operational and financial execution across all of our brands. Based on the results we see across our portfolio, we are confident in the fundamentals of our business and the year ahead. We believe that our growth strategies, consistent execution and operational discipline, put us on track to deliver another record year for our shareholders," said CEO Laura Alber.
TheStreet Ratings team rates WILLIAMS-SONOMA INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate WILLIAMS-SONOMA INC (WSM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."