Williams-Sonoma CEO says the company saw tariff hikes coming, hired more US workers

In December, Williams-Sonoma announced that it would open a facility in Tupelo, Mississippi, in January and add hundreds of jobs to manufacture upholstered furniture. Alber said it's beneficial to bring jobs back to the United States because "the cost from the freight coming from Asia offsets the costs of the labor," as the company learned after opening its first Sutter Street Manufacturing unit in North Carolina.

The company also renegotiated contracts with manufacturers in that country in order to reduce costs and prices, Alber said. Williams-Sonoma won't be successful in halting all costs for consumers, but price increases will be "selective," she added. "We've been very careful and studying where we should do that, but more importantly we're reducing costs," she said. "So reducing costs, not just on the cost of goods by moving them, but also in other parts of our company."

Williams-Sonoma reported 3.7% of revenue growth in its fourth quarter earnings report and gave guidance that one Morgan Stanley analyst called "seemingly optimistic." The retailer expects comparable brand revenue growth of between 2% and 5% and earnings per share of up to $4.70 for 2019. Shares of the San Francisco-based firm are up 8.52% over the past 12 months and 3.53% this year. The stock fell about 5% Monday.

Why is her neck so red

Jim went to a Giants game. Wow.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Gundlach says stock market still in a bear market, sees high chance of tariff hikeJeffrey Gundlach of DoubleLine says stocks continue to behave like they’re in a bear market and that there’s a more-than-50% probability the U.S. raises tariffs on Chinese goods, escalating the trade conflict. Still? I must have missed that memo The next right call he makes will be the first one he’s made in years. But yeah, let’s keep putting him on TV and getting his thoughts.
출처: MarketWatch - 🏆 3. / 97 더 많은 것을 읽으십시오 »

Chinese companies brace for tariff hike: ‘If the tariffs rise to 25%, then we’re done for’Chinese exporters of all sorts of products, from power adapters and computers to vacuum cleaners, are anxiously hoping trade talks in Washington this week... Ouch! That is hurted! 95% of chinese population would not dare to speak against their leaders! Screws consumers as always!
출처: MarketWatch - 🏆 3. / 97 더 많은 것을 읽으십시오 »

China stocks, yuan end up, pin hopes on trade deal despite U.S. tariff hikeChinese shares ended higher and the yuan strengthened on Friday as investors bet... bad reporting. yuan had its worst week since last summer.
출처: Reuters - 🏆 2. / 97 더 많은 것을 읽으십시오 »