There's one retail name that made Josh Brown's Best Stocks list that caught him by surprise
Against all odds, this stock is working, says Josh Brown.
TL;DR
- Williams-Sonoma (WSM) is outperforming the Dow Jones Specialty Retailers Index, reaching new highs while the index declines.
- The company reported strong Q2 growth, with all brands showing positive comparable sales, indicating market share gains.
- WSM's AI shopping assistant, 'Olive,' has seen a 700% increase in engagement and a 620% rise in associated revenue.
- The business-to-business segment grew by 14.5% in Q2, contributing significantly to overall revenue.
- Management raised full-year guidance for comparable brand revenue growth and operating margins.
- Analysts note the stock's strong performance is occurring in a challenging retail environment, with advice to wait for a confirmed breakout above resistance levels.
- Key price levels to watch for WSM include resistance around $245-$252 and support at $230 (short-term) and $215-$210 (long-term).