An article in the San Francisco Chronicle Friday reporting on a rumor of a rejected bid for Williams-Sonoma by Starbucks caused as much as a 15% jump in stock for the house wares and home furnishings retailer and cataloger.
Williams-Sonoma, based in the San Francisco Bay area, declined to comment to the Chronicle. Starbucks also declined comment.
Williams-Sonoma is seen by some analysts as an undervalued company ripe for someone with enough money to buy. Starbucks is seen as a likely buyer because of each company’s demographics and e-commerce strategies. Both companies mostly cater to well-educated women with a median household income of $75,000, 70% of whom use the Web.
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