shares of williamssonoma slipped on monday after jefferies downgraded the home furnishings stock to the equivalent of a sell rating driving jefferies’ downgrade is the assumption that the economy will continue to slow down over the next couple of quarters with a high risk of falling into a recession in 2023 in past recessions momentum in furniture spending among uppermiddle income consumers came “to an abrupt halt” hitting williamssonoma margins and sales wrote analyst jonathan matuszewski