On Friday, Williams-Sonoma (NYSE:WSM) shares fell 7 per cent in pre-market after the company withdrew its guidance through the fiscal year 2024, citing macro uncertainty.

The home-goods retailer reported an adjusted third-quarter EPS (earnings per share) of USD 3.72 on revenue of USD 2.19 billion. Analysts were expecting an EPS of USD 3.73 on revenue of USD 2.15B. Same-store sales were up 8.1 per cent for Q3.

According to Laura Alber, the President and Chief Executive Officer, these results reflect the continuation of backlog order fulfilment, robust product margins and disciplined cost control.

The adjusted and gross margins remained at 41.5 per cent, both 160 basis points below the consensus, for which the company blamed higher shipping and freight costs.

While WSM reiterated its 2022 guidance for mid-to-high single-digit annual net revenue growth, it withdrew its guidance through the fiscal year 2024 due to high macro uncertainty.