RTTNews | Nov 20, 2020 09:48AM EST

09:48 Friday, November 20, 2020 (RTTNews.com) - Shares of Williams-Sonoma Inc. (WSM), a specialty retailer of various products for home, are gaining almost 12 percent or $11.67 in Friday's morning trade at $112.71, after touching a new 52-week high of $114.00. The company's third-quarter results exceeded analysts' expectations.

Thursday, Williams-Sonoma reported third-quarter net income of $201.8 million or $2.54 per share, up sharply from $74.7 million or $0.94 per share in the year-ago period. Adjusted earnings were $2.56 per share, up from $1.02 per share last year. Net revenue grew 22.4 percent to $1.76 billion from $1.44 billion last year. Analysts polled by Thomson Reuters had a consensus estimate for earnings of $1.53 per share on revenues of $1.60 billion.

Looking ahead, Williams-Sonoma said it is not providing guidance for fiscal year 2020, "given the dynamic nature of the COVID-19 crisis and the continuing macroeconomic uncertainty that could impact its performance."

Williams-Sonoma has traded in a range of $26.01 to $114.00 in the past 52 weeks.

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