Williams-Sonoma Reports Q2 Beat, Shares Up 2%

Williams-Sonoma, Inc. (NYSE:WSM) shares rose more than 2% pre-market following the company’s reported Q2 results, with EPS coming in at $3.87, better than the Street estimate of $3.49. Revenue was $2.14 billion, compared to the Street estimate of $2.03 billion.

Q2 comparable brand sales grew 11.3%, well ahead of the Street estimate of 5.2%. While the company didn’t provide an exact number, it noted that demand comp was positive and, importantly, has accelerated in the first three weeks of Q3.

Furthermore, management confirmed that the backlog remains sizable and is expected to remain a sales tailwind in the second half of the year and possibly into 2023.