Williams-Sonoma, Inc. (WSM) was in the news after declaring its first-ever National Hiring Day. The event will take place on Thursday, September 14, from 2 p.m. – 7 p.m. local time at all of its stores across the U.S. and Canada. The company plans to fill up 4K position that day. Interested candidates will get a chance apply online for open positions at different offices.
The stock market value of Williams-Sonoma, a supplier of household goods and furniture, almost halved since hitting the top in August 2015. The crash seems exaggerated. Laura Alber, the CEO, is successfully fighting change, surpassing his own forecasts in the second quarter. Revenue rose by almost four percent to $1.2 billion, with earnings up by around five percent to $0.61.
The online trade contributes more than half to the total sales. Alber continues to invest heavily in the e-commerce platform and wants to expand digital advertising. In the third quarter, sales on existing space are expected to grow by two to five percent. Alber is targeting 1.27 to 1.31 billion dollars. Earnings per share expected be between $0.80 and $0.87. On a yearly basis up to 5.26 billion dollar sales are on the agenda. The rating is moderate. Also, a good three percent dividend yield speak for the stock. Alber uses the share buyback program, which stabilizes the price.
Facebook has attracted a Chinese senior post officer to restore ties with the country. The new Facebook manager, William Shuai, was previously the person who led LinkedIn to gain ground in China. Facebook has been banned since China since 2009 because the country keeps an eye on the internet behavior of its citizens and, where necessary, censures. Only when a company adopts the censorship, the website can be reached in China.
For example, popular Chinese social media such as Weibo (a kind of Twitter) and WeChat (a kind of WhatsApp) actively participate in censoring content, especially because the Western companies do not allow and block the censorship.
Shuai, who previously worked for the Chinese government, is now being appointed by Facebook to get a better relationship with Beijing. China is an important country for Facebook: there are hundreds of millions of Internet users who do not yet have an account with the social network.
China is so important to Facebook boss Mark Zuckerberg that he even learned Mandarin to better understand the country. Previously, The New York Times reported that Facebook would work on a censorship that would allow the social network to gain access to China.