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Williams-Sonoma Inc. (WSM) Broke Out To A New High On Q4 Results

Williams-Sonoma Inc. (WSM) reported fourth quarter EPS of $1.34 after the bell Tuesday, up from $1.17 in the prior year period. The consensus estimate was for EPS of $1.29. Full year 2013 EPS is expected to be between $2.65 and $2.75, compared to the consensus estimate of $2.54.

The company also announced that its Board of Directors has authorized a quarterly cash dividend of $0.31 per share, up 41 percent from the previous dividend. The board also authorized a new $750 million stock repurchase program over the next three years.

Williams-Sonoma gapped up sharply Wednesday and climbed throughout the first half of the session. Shares finished with a gain of 4.64 at $49.85 on the highest volume of the year. The stock broke out to a new high for the year.

by RTTNews Staff Writer

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