Williams-Sonoma (WSM) Reports Higher Holiday Sales
January 15, 2010 9:54 AM
Williams-Sonoma, Inc. (NYSE: WSM) reported a 7.4 percent rise in holiday revenue, prompting the home goods retailer to forecast fourth-quarter results above market estimates. According to Reuters, the operator of the Pottery Barn, West Elm and Williams-Sonoma chains has been helped by its decision to offer more lower-priced home decor items and improved holiday merchandise, driving in more shoppers.
For the holiday period ended December 27, sales increased 7.4 to $783 million. The company expects fourth-quarter sales of $1.06 billion to $1.08 billion, with profit between 65 cents and 70 cents a share. On an adjusted basis, the company expects earnings of 69 cents a share to 74 cents a share. Shares of the company were up 1 percent at $23.05 Thursday. They had closed at $22.75 Wednesday on the New York Stock Exchange.
