J.P. Morgan: Williams-Sonoma's CFO Surprise Retirement

According to a research report published today by J.P. Morgan, Williams-Sonoma Inc.'s

CFO, Sharon McCollam, has announced her sudden retirement, set to take place on March 16th. J.P. Morgan commented in the report, “At 48, Sharon McCollam is young and is also very well regarded by the Street. She stemmed the company's liquidity during the financial crisis and executed a costreduction program that right-sized the business to a new reality and slower growth. Against this backdrop, the upside to sales and margin estimates that was experienced in 2009-11 has become more uneven recently, and WSM is embarking on stepped-up growth investments (capex $200-$220MM vs. $130MM in 2011). All in [all], we believe this creates uncertainty.” J.P. Morgan maintains its Neutral rating on Williams-Sonoma, which is currently trading at $36.81.