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Bleeding Market Share
BTIG's Alan Rifkin holds a more bearish stance on Williams-Sonoma's stock based on his Sell rating and $41 price target.
The analyst highlighted in a research report that, while comps broke positive after two negative quarters, the core Williams-Sonoma concept continues to lose market share as retail sales in the home furniture category rose 2.2 percent in the quarter, which came in above both sales and comp growth.
Rifkin added that the company also showed a 0.7-percent growth in e-commerce despite lowering shipping costs and increasing advertising. The analyst suggested that this indicates continued share loss in the "critical" online space and comes at a time when the home furniture industry as a whole is likely growing by a double-digit rate.
At time of publication, shares of Williams-Sonoma were down 1.91 percent at $48.66.
Related Links:12 Stocks To Watch For May 25, 2017Williams-Sonoma Still Holds Durable Appeal, But Sales Trajectory Concerns Linger_______Image Credit: Clotee Pridgen Alloc… [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia CommonsCrypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.