This Stock is Soaring

Today’s chart shows a company that’s riding the online-shopping trend…

With COVID-19 cases surging, folks have stayed away from brick-and-mortar stores. As we’ve covered with companies like Wayfair (W) and Amazon (AMZN), online shopping has gotten a boost. Today’s company is benefiting from that trend, too…

Williams-Sonoma (WSM) provides high-quality cookware and home furnishings, with stores in multiple countries across the world.

And even though it closed all 616 of its physical store locations for more than half the first quarter, it recently reported strong results.

According to President and CEO Laura Alber, the crisis accelerated the shift to e-commerce, and has “given rise to a newfound appreciation for the home.”

Williams-Sonoma’s e-commerce revenue grew more than 30% in the first quarter… And the company reported comparable brand revenue growth of 2.6%.

WSM shares are up 41% over the past year, including dividends. They recently hit new all-time highs. And as folks spend more time indoors sprucing up their houses and avoiding public places, this trend should continue…

— Daily Wealth’s Market Notes

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Source: Daily Wealth’s Market Notes