Williams-Sonoma Tapers 2016 Growth Outlook on Softer Retail Landscape; Shares Remain Undervalued
As narrow moat-rated Williams-Sonoma battles a difficult retail landscape and increasingly competitive e-commerce environment, the firm tapered its outlook modestly for the remainder of 2016, lowering expected sales from $5.2 billion to $5.15 billion at the midpoint. Greater pressure seems to be coming from the ability to raise prices, hold market share, and leverage costs, resulting in a downtick in expected operating margins by 30 basis points (to 9.4%-9.8%) ultimately reducing earnings to $3....Williams-Sonoma is a retailer of products for the home. The company has two reportable segments, e-commerce and retail. The e-commerce segment has the following merchandise strategies: Williams Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, PBteen, Williams Sonoma Home, Rejuvenation and Mark and Graham, which sell the company's products through its e-commerce websites and direct-mail catalogs. The retail segment, which includes the company's franchise operations, has the following merchandise strategies: Williams Sonoma, Pottery Barn, Pottery Barn Kids, West Elm and Rejuvenation, which sell the company's products through its retail stores.
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