Why Williams-Sonoma Is a Buy
Specialty home goods retailer Williams-Sonoma (NYSE: WSM) has weathered what has been a volatile 2020 pretty well, taking advantage of consumers continuing to spend to improve their living spaces during this pandemic-dominated time when more people are staying home more and working remotely.
The California-based company's West Elm and Pottery Barn brands are growing briskly and look well-positioned to do so. There's also the benefit of a very strong housing market that is helping demand for home goods. Is now a good time for investors to get in on the growth potential?
Williams-Sonoma reported strong second-quarter (which ended Aug. 2) revenue growth of 8.8% year over year, boosted by significant e-commerce growth of 46%. The results were impressive given that some of its stores were only just reopening following COVID-19-related closures. Stores performed better than expected during the quarter.
Source Fool.com
