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Fly News Breaks for May 26, 2016
WSM
May 26, 2016 | 09:04 EDT
BofA/Merrill analyst Denise Chai remains cautious on Williams-Sonoma (WSM) due to increasing competitive pressure, particularly from WayFair (W). Chai said Williams-Sonoma provided lackluster Q2 guidance and said the company's efforts to expand its customer base and opening price points highlight concerns it is increasingly competing against unprofitable online only players competing on price. The analyst rates Williams-Sonoma an Underperform with a $48 price target.
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