logo
Share SHARE
FONT-SIZE Plus   Neg

Williams-Sonoma Profit Tops View; Stock Up - Update

Williams-Sonoma Inc. (WSM) Tuesday reported an increase in fourth-quarter profit, with the home products and furnishings retailer benefiting from strong e-commerce sales. Williams-Sonoma's earnings and revenues for the quarter topped Street estimates.

Moving forward, the company detailed a strong outlook for fiscal year 2013, but a soft projection for the first quarter. Nevertheless, Williams-Sonoma shares gained 5 percent in after-hours trade on the New York Stock Exchange.

The company also announced a 41 percent increase in quarterly cash dividend amounting to $0.31 per share, payable May 24 to stockholders as of April 26. Williams-Sonoma also revealed a new $750 million stock repurchase program for the next three years.

San Francisco, California-based Williams-Sonoma reported fourth-quarter net income of $133.7 million or $1.34 per share, compared with $122.6 million or $1.17 per share last year.

On average, 28 analysts polled by Thomson Reuters expected earnings of $1.29 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the fourth quarter rose about 11 percent to $1.41 billion from $1.27 billion a year ago. Analysts on consensus estimated revenues of $1.40 billion for the quarter.

Direct-to-customer sales increased 19.3 percent from last year, with e-commerce sales up 24 percent. Retail sales increased 4 percent.

For the first quarter, the company expects earnings in the range of $0.33 to $0.36 per share on sales of $850 million to $870 million. Analysts currently estimate earnings of $0.39 per share on sales of $868.99 million.

For fiscal year 2013, Williams-Sonoma expects earnings of $2.65 to $2.75 per share on revenues of $4.20 billion and $4.28 billion. Analysts currently expect earnings of $2.54 per share on revenues of $4.04 billion.

Williams-Sonoma stock closed Tuesday's regular trade at $45.21, down 0.75%, on a volume of 3.4 million shares. In after hours, the stock gained 5.09%.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Major League Baseball is talking expansion for the first time in a few decades. Owners stand to make a pretty penny from expansion fees and subsequent television rights. The possibility of a more balanced schedule is also enticing. Strong expansion candidates in the U.S. and Canada are ready... The New York Times is teaming up with Google again to give away Google Cardboard, the virtual reality headsets, but this time only to its "most loyal" digital subscribers. The company said that the digital-only subscribers selected for this distribution were chosen based on the duration of their subscriptions. Oil company Exxon Mobil Corp. on Friday reported a 63 percent fall in profit for the first quarter from last year, while Chevron Corp. reported a loss for the quarter, both on lower revenues. The results were impacted by the fall in crude oil prices and weaker refining margins. However, Exxon Mobil's earnings beat analysts' estimates, while Chevron's loss was wider than their expectations.
comments powered by Disqus
Follow RTT