Alber said while 2020 was a difficult year it was also a year when Williams-Sonoma got to clarify their values to customers. As a result, customer satisfaction has never been higher.
The company saw e-commerce sales jump 47.9% in the quarter.
Alber said they're a purpose-driven company. Customers care about things like sustainability, she said, and now that there are more people buying sustainable products, the prices for these goods are starting to come down.
They're now ready to welcome customers back in the store as restrictions lift and the economy reopens.
In our last review of the charts on November 23, we wrote: "I find it a judgment call when a stock is in an uptrend but the indicators are just not in the best alignment. That is the case with WSM right now. We are in an uptrend with a $156 price target but the indicators show us some bearish divergences. If you happen to still be long WSM, consider raising stop protection to a close below $99."
In this updated daily Japanese candlestick chart of WSM, below, we can see that our recommended $99 stop was fine and that our $156 price target was just reached. The candle pattern Thursday may be a potentially bearish rickshaw man pattern. Bearish confirmation would be needed today. The slopes of both the popular moving averages - 50-day and 200-day - are positive.
The On-Balance-Volume (OBV) line has been pointed up the past 12 months and that helps to confirm the price gains. The Moving Average Convergence Divergence (MACD) oscillator just turned upwards to a fresh outright buy signal.
In this weekly Japanese candlestick chart of WSM, below, we see a positive picture. The rickshaw man pattern on the daily chart disappears and a long white candle is visible. The slope of the 40-week moving average line is bullish.
The OBV line is pointed up and close to making a new high, while the MACD oscillator shows new strength after earlier narrowing.
In this updated daily Point and Figure chart of WSM, below, we do not have the price gap seen on the daily candle chart (above). Here the software suggests a new and higher price target of $230.
Bottom line strategy: If you are still long WSM, great! If you took profits yesterday at our $156 price target that is also great. We need to see some sideways trading action before adding to or rebuying WSM. Wait for it to develop. Maybe we will get a dip to $150 to go long and risk $140. The round number of $200 and then $230 are the price targets.