Stock Alert: Williams-Sonoma Hits New 52-week High

(RTTNews) - Shares of Williams-Sonoma Inc. (WSM) are rising more than 10 percent or $7.61 in Friday's morning trade at $80.64, after touching a new 52-week high of $80.95 earlier as the omni-channel specialty retailer's first-quarter results trumped analysts' estimates.

Thursday, Williams-Sonoma said its first-quarter net income was $35.4 million or $0.45 per share, down from $52.7 million or $0.66 per share last year. Adjusted earnings for the quarter were $0.74 per share, beating the Street estimate for a loss of $0.15 per share on revenues of $1.02 billion. Analysts' estimates typically exclude special items. Williams-Sonoma noted that despite its stores being temporarily closed for most of the quarter, revenues were driven by a significant acceleration in e-commerce revenue growth to over 30 percent. In addition, the company's board of directors declared a quarterly cash dividend of $0.48 per common share.

The stock has traded in a range of $26.01 to $80.95 in the past 52 weeks.