Williams-Sonoma’s (WSM) Rejuvenation Opens New Cary Store
Williams-Sonoma, Inc’s. WSM portfolio brand, Rejuvenation, continues to expand its retail footprint. Recently, the brand unveiled a new store in Cary, North Carolina. This marks the brand’s 12th retail location and the first location for the state.
Situated in the Fenton Shopping Center, the new 5,900-square-foot store showcases Rejuvenation’s mindfully crafted assortment of furniture, textiles and unique vintage finds for residential and commercial design projects. The store also highlights more than 240 light fixtures and 40 collections of hardware for cabinets, doors, windows and outdoor spaces. It will provide design and lighting expertise, along with complimentary interior design services for customers.
Focus on Expansion
Williams-Sonoma focuses on driving profit and customer service through its best-in-class retail business. The company’s beautifully designed and exceptionally curated stores at strategic locations contribute to this strategy. Based on this, the company drives its footprint through expansion initiatives.
During third-quarter fiscal 2023, Rejuvenation witnessed positive results driven by growth in remodel and refresh categories and the introduction of new growth initiatives. The brand is expanding into new markets as customers continue to update their homes, particularly in kitchen and bath spaces. On Sep 29, the company unveiled a new store in San Diego, CA, under its portfolio brand Rejuvenation.
WSM is currently focusing on expanding its business in the Indian market. During the third quarter of fiscal 2023, the company opened its third West Elm retail location in Pune and expanded its Pottery Barn brands into the world-famous Jio World Plaza. In the future, the company plans to open additional locations in 2024.
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Shares of WSM have surged 55.6% in the year-to-date period compared with the Zacks Retail – Home Furnishings industry’s 26.9% growth. The uptrend is attributable to the company’s B2B initiative and expansion plans.
Zacks Rank and Key Picks
Williams-Sonoma currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Retail-Wholesale sector are:
Abercrombie & Fitch Co. ANF flaunts a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 724.8%, on average. Shares of ANF have surged 294.9% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for ANF’s 2023 sales and earnings per share (EPS) suggests increases of 10.4% and 1,724%, respectively, from the year-ago period’s levels.
Beacon Roofing Supply, Inc. BECN sports a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 11.1%, on average. Shares of BECN have increased 38.3% in the past year.
The Zacks Consensus Estimate for BECN’s 2023 sales and EPS indicates a 6.9% and a 6.3% growth, respectively, from the year-ago period’s levels.
Chuy’s Holdings, Inc. CHUY currently carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 24.8%, on average. The stock has gained 7.7% in the past year.
The Zacks Consensus Estimate for Chuy’s 2023 sales and EPS suggests a rise of 9.3% and 37.2%, respectively, from the year-ago period’s levels.
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Original: Investing Feed: Williams-Sonoma’s (WSM) Rejuvenation Opens New Cary Store