RBC Capital analysts provided their outlook on Williams-Sonoma, Inc. (NYSE:WSM) ahead of the upcoming Q3 results, expecting sold sales driven by progress against the backlog. The analysts expect comp sales growth of 6.0% in Q3 (vs. Street’s 5.2%) and EPS of $3.65 (in line with expectation).
According to the analysts, their channel work suggests that supply chain lead times improved meaningfully throughout the quarter, which should have resulted in more progress against the backlog than initially anticipated. The analysts have an upside bias to numbers but anticipate investors will look through the print, focusing on demand comp (if given) and any provided color on the remaining size of the backlog.