After-hours buzz: WSM, LB & more
Shares of Williams-Sonoma soared nearly 15 percent in after hours trading. The home and kitchen retailer reported first quarter earnings and revenue that blasted past analyst expectations and prompted the company to strengthen outlook for fiscal 2018 revenue and earnings. Williams-Sonoma reported EPS of 67 cents on revenue of $1.2 billion, versus the 58 cents on $1.16 billion Wall Street expected. The company also reported strong comparable brand revenue growth, 5.5 percent versus the 4 percent expected.
L Brands stock plunged more than 6 percent after the bell. The parent company of brands like Victoria's Secret and Bath and Body Works reported first quarter financial results that beat analyst expectations on both top and bottom lines, but weakened second quarter guidance. L Brands issued guidance for second quarter earnings per share between 30 and 35 cents. Wall Street was expecting EPS of 41 cents.
Shares of L Brands are down about 43 percent year-to-date.
NetApp stock is down more than 4 percent in the extended session, despite a strong first quarter financial report. The company beat Street expectations on top and bottom lines and reported second quarter EPS outlook that fell within the range analysts projected.
NetApp shares have been performing well, up 20.7 percent year-to-date and 69 percent year-over-year.
Shares of Destination Maternity, which owns Pea in the Pod, soared more than 17 percent in extended trading. A group of activists won a proxy battle to seat more women on the company's board. Shareholders voted in favor of a dissident slate of board nominees on Wednesday. The winning slate had three women and one male nominee.