Williams-Sonoma Lowers Q4 Forecast, Lifts Dividend

Williams-Sonoma Inc WSM lowered its Q4 earnings forecast. Williams-Sonoma now projects earnings of $1.10 to $1.15 per share, versus its earlier outlook of $1.15 to $1.20 per share. It expected revenue of $1.24 to $1.26 billion for the quarter. However, analysts were expecting earnings of $1.19 per share on revenue of $1.26 billion. Williams-Sonoma raised its quarterly cash dividend by 29% to $0.22 per share. The company's board also authorized a new $225 million stock buyback program. Williams-Sonoma shares gained 0.46% to close at $39.08 yesterday.