Why Williams-Sonoma Sank 14.5% This Week
Shares of Williams-Sonoma (NYSE: WSM) dropped 14.5% this week, according to S&P Global Market Intelligence. The home goods retailer, which also owns Pottery Barn, didn't have any business updates this week. However, bearish sentiment from Target about consumer demand and freight costs caused the entire retail sector to drop, impacting Williams-Sonoma stock.
Williams-Sonoma was founded back in 1956, and today it has evolved into both an online and bricks-and-mortar retailer of home goods. The stock has been a phenomenal performer in the past few decades, up more than 10,000% since the 1980s. However, this week it took a tumble because of some comments made on the Target conference call.
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Source Fool.com
