Williams-Sonoma shares jumped to contemporary highs Thursday after the home goods retailer posted better-than-expected results for its fourth quarter.
The company’s e-commerce business played a key position in growing sales to make up for misplaced business in physical stores. But CEO Laura Alber is anticipating a strong restoration in brick-and-mortar sales as the U.S. economy emerges from the pandemic.
“The store traffic’s coming back,” she said on CNBC’s “Mad Money.” “I think of us don’t realize the upside we have in retail.”
Williams-Sonoma, known for selling products for the kitchen, generated $2.3 billion in revenues in its most up-to-date quarter that ended Jan. 31. It was the third-straight quarter of year-over-year increase, following a dip in sales early last year when sweeping Covid-19 lockdowns took enact.
The San Francisco-based retailer also reported elephantine-year results from its 2021 fiscal year. Despite pandemic-era business disruptions, the company had its handiest year of increase in almost two decades.
Online sales grew 45% during the fiscal year, compared to a 24% fall in in-person sales. Silent, Alber said the company won’t hand over on its brick-and-mortar strategy.
“We talk about e-commerce, and that will likely be our increase, but this retail restoration is a mountainous part of the checklist as well,” she said.
Shares of Williams-Sonoma popped 18.46% on Thursday, closing at $161.57.