RTTNews | Nov 19, 2020 05:38PM EST

17:37 Thursday, November 19, 2020 (RTTNews.com) - Shares of Williams-Sonoma Inc. (WSM) gained nearly 6% in extended trading session Thursday after its third-quarter profit and revenues trumped Wall Street expectations.

The company reported third-quarter profit of $201.8 million or $2.54 per share, up from $74.7 million or $0.94 per share last year.

Adjusted earnings for the quarter were $2.56 per share, up from $1.02 per share last year. On average, 21 analysts polled by Thomson Reuters expected an earnings of $1.53 per share.

Net revenue grew 22.4% to $1.76 billion from $1.44 billion last year. Revenues were driven by acceleration across all brands. Analysts had a consensus revenue estimate of $1.60 billion.

Demand comparable brand revenue growth accelerated to 31%, which includes orders placed but not yet filled or charged to the customer in the quarter

Net comparable brand revenue growth of 24.4%, with sequential and year-over-year acceleration in all brands, including Williams Sonoma at a record 30.4%, Pottery Barn at 24.1%, Pottery Barn Kids and Teen at 23.8% and West Elm at 21.8%

E-commerce net comparable brand revenue growth accelerated to 49.3% with e-commerce penetration holding at almost 70% of total net revenues.

Moving ahead, the company 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."

WSM is currently trading at $101.04, up $3.88 or 3.99%, on the NYSE. The stock further gained $5.96 or 5.90% in the after-hours trade.

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