Why Williams-Sonoma Stock Gained 11% in October

Share of housewares retailer Williams-Sonoma (NYSE: WSM) jumped 11% in October, according to data provided by S&P Global Market Intelligence. The market has been impressed with its resilience despite inflation, and it's considered a safer alternative to high-flying artificial intelligence (AI) stocks that could be hurt by high interest rates.

Williams-Sonoma owns several brands of housewares and furniture. It targets the upscale consumer who is less affected by inflation and can afford full-priced products.

Many industry players have been hard hit by the poor real estate environment. The thinking is that more people spend on their home when they move, not if they're staying in place.

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