Shares of Williams-Sonoma Inc. (WSM, Financial) fell almost 13% after the company posted third-quarter earnings of 95 cents per share, on revenue of $1.36 billion, reflecting a 4.6% year-over-year growth. The company beat earnings estimates by 1 cent but fell short of revenue expectations by $10 million.
In the third quarter, comparable brand revenue rose 3.1%, but it was lower than the growth of 3.3% in the third quarter of 2017. E-commerce net revenues increased 8.2% to $747 million from $690 million and retail net revenues inched up 0.2% to $610 million from $609 million in the same trimester of 2017.
Moreover, the operating margin was 7.0%, lower than 8.5% in the comparable period.
Shares of Nordstrom Inc. (JWN, Financial) fell more than 12% on Friday after announcing third-quarter results. The company posted earnings per share of 67 cents and $3.65billion in revenues, a 3.1% year-over-year growth. The company beat earnings estimates by 1 cent but fell shortrevenue expectations by $50 million. The company took a $72 million charge for customer credit card refunds, which contributed to the fall.
Earnings before interest and taxes were $105 million, or 2.9% of net sales, compared with $208 million, or 5.9% of net sales, during the same period in fiscal 2017
Gross profit was 33.3%, 137 basis points lower than the same quarter in fiscal 2017.
Looking ahead fiscal year 2018, the company updated its annual outlook to revenues between $15.5 billion and $15.6 billion, and Ebit in the range of $863 million to $888 million.
Shares of Applied Materials Inc. (AMAT, Financial) fell 2% after reporting fourth-quarter results. The company registered earnings per share of 97 cents and revenue of $4.01 billion, a 1.0% year-over-year growth. The company fell short of earnings estimates by 6 cents but beat revenue expectations by $10 million.
The gross margin was 45.3% and on a non-GAAP adjusted basis, the gross margin was 46.3%.
Looking ahead to the first quarter of fiscal 2019, the company expects net sales to be between $3.56 billion and $3.86 billion, and non-GAAP adjusted diluted earnings per share are expected to be in the range of 75 to 83 cents.
Disclosure:The author holds no position in any stocks mentioned.
