While reporting financial results for the third quarter on Wednesday, luxury home furnishing retailer Williams-Sonoma Inc. (WSM)

SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Williams-Sonoma Inc. (WSM) on Wednesday reported fiscal third-quarter earnings of $249 million. On a per-share basis, the San Francisco-based company said it had net income of $1.96.

Shares of Williams-Sonoma ( NYSE: WSM) soared 22.5% in the premarket session to $168.07, which is the highest trading level of 2024 and not far off from the 52-week high of $174.26. Notably, short interest on WSM stands at 11.1% of the total float, which could add to volatility during the regular trading day.

In the second quarter of fiscal 2024, Williams-Sonoma faced significant challenges, primarily stemming from macroeconomic pressures such as a slow housing market and overall economic uncertainty, which dampened consumer spending on home furnishings.