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Does is have a durable competitive advantage over its competitors?

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Williams-Sonoma competitive advantage comes from its premium product portfolio, scaled e-commerce business,supply chain and their digital platform. Also they’re popular amongst suburban women. Most of their stores are located in upper-class neighbourhoods

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Great article. Turns out the stock more than doubled again. another error of omission. Stupid discussions around RH & W let me think that Williams-Sonoma did not have a competitive advantage & deserved such a low multiple.

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We learn from our mistake. At the end of the day there were a lot of things investors missed when it came to this company. One of them is quality ceo and the cult following this brand has on its target market.

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I thought the aggressive sales tactics of Wayfair & RH would potentially hurt WSM. Not convinced WSM was different enough.

Like your checklist btw!

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Aug 9, 2023Liked by Wesley

I disagree on the valuation front. 2021 & 2022 seem like 2 years of peak/over earnings. Given the discretionary nature of the spending, I think it's trading at an adjusted 8% yield rather than the quoted. 12%

Not a screaming bargain but still a decent buy. Good analysis.

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thanks for your assessment. much appreciated

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Excellent analysis as always 👏

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Thanks Gordon as usual? Got any thoughts on this company?

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I’ve had it on my watchlist for a year or so. Was tempted for a while but like you say it’s still slightly above fair value

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Jul 4, 2023Liked by Wesley

Great one again! I’m happy I already owned this company

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Thanks I appreciate it. It is a solid company and well run. Definitely one to hold onto for the long run

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