Williams-Sonoma Jumps After Q4 Earnings Report
Specialty retailer Williams-Sonoma (NYSE: WSM) released its fiscal fourth-quarter earnings results on Tuesday after the closing bell.
The company reported earnings and revenue which were above Wall Street expectations and provided full-year guidance which was ahead of consensus estimates.
Williams-Sonoma;s board of directors also boosted the company's dividend by 41 percent to $0.31 per quarter and authorized a new $750 million share repurchase program over three years.
In late trading, Williams-Sonoma shares were last up around five percent to $47.38 in the wake of the company's strong full-year guidance.
For the fourth-quarter, the company reported net income of $133.73 million or $1.34 per share, compared to $122.59 million or $1.17 per share, in last year's corresponding period. This beat analysts' consensus EPS estimates of $1.29 by a nickel.
Revenue in the period was up almost 11 percent to $1.41 billion from $1.27 billion last year. This came in just ahead of analyst's consensus revenue estimates of $1.40 billion.
For the full-year, Williams-Sonoma said that it expects EPS in a range of $2.65 to $2.75 on revenue of $4.20 billion to $4.28 billion. This compares to current consensus estimates of $2.54 per share on revenue of $4.04 billion.
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