Williams-Sonoma Q4 Profit Down, But Beats Estimates; Ups Dividend; To Buy Back Shares - Update

(Adds Outlook, dividend, Share Repurchase).

Williams-Sonoma Inc. (WSM) has raised its quarterly cash dividend by 15 percent to $0.90 per share. The dividend will be paid on May 26, to shareholders of record on April 21.

The firm also has approved a new $1 billion share repurchase. The authorization is effective March 16.

Looking ahead, for full year, the company expects a revenue growth of -3 percent to3 percent.

Separately, WSM revealed a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $354.993 million, or $5.28 per share. This compares with $402.941 million, or $5.41 per share, in last year's fourth quarter.

Excluding items, Williams-Sonoma Inc. reported adjusted earnings of $5.50 per share for the period.

Analysts on average had expected the company to earn $5.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.9% to $2.453 billion from $2.501 billion last year.

Williams-Sonoma Inc. Q4 earnings at a glance (GAAP) :

-Earnings (Q4): $354.993 Mln. vs. $402.941 Mln. last year.
-EPS (Q4): $5.28 vs. $5.41 last year.
-Analyst Estimates: $5.46
-Revenue (Q4): $2.453 Bln vs. $2.501 Bln last year.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT