Wayfair Inc. (NYSE:W) and Williams-Sonoma, Inc. (NYSE:WSM) shares are trading higher in Thursday's after-hours session after RH (NYSE:RH) reported better-than-expected quarterly results.
The Details: Shares of furniture and home goods companies, including Wayfair and Williams-Sonoma are trading higher in sympathy with RH.
The furniture retailer's shares are soaring after the company reported earnings and revenue above analyst estimates for the second quarter and adjusted its third-quarter revenue growth forecast to a range of 7% to 9%.
"We are pleased to report that demand was up 7% in the second quarter and has continued to inflect positive, gaining momentum each month with July finishing up 10%. Demand accelerated into the third quarter with August up 12% and product margins inflecting positive despite operating in the most challenging housing market in three decades," commented Gary Friedman, CEO of RH.
W, WSM Price Action: According to Benzinga Pro, Wayfair shares are up 4.56% after-hours at $46.82 and Williams-Sonoma shares are up 3.78% at $141 at the time of publication Thursday.
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