Wednesday, August 22, 2012

Williams-Sonoma, Inc. (NYSE:WSM) Hits 52-Week High On Improved Outlook

Home goods company Williams-Sonoma, Inc.(NYSE:WSM) on Tuesday reported a 10 percent rise in its second quarter income sending its shares soaring more than 9 percent in after-hours trading.

For the quarter ended July 29, Williams-Sonoma earned $43.4 million, or 43 cents per share, up from $39.3 million, or 37 cents per share, in the 2011 second quarter.

Revenue rose 7 percent to $874.3 million, from $814.8 million last year.

Analysts expected a profit of 41 cents per share on $864.2 million in revenue.

The same store sales of the company, a key measure of a retailer’s ability to attract footfalls, rose 7.4 percent, including an 11.7 percent increase at Pottery Barn stores and a 15.6 percent jump at West Elm stores. 

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The company forecast a third-quarter profit of 43 cents to 46 cents per share, on revenue of $905 million to $925 million.

Analysts expect a profit of 43 cents per share, with estimates ranging from 37 cents to 48 cents. Wall Street projects quarterly revenue of $912.7 million with estimates from $894.1 million to $923 million.

For the full fiscal year, Williams-Sonoma said it expects to earn an adjusted $2.44 to $2.51 per share, between $3.98 billion to $4.03 billion in revenue.

The company previously projected a profit of $2.42 to $2.49 per share on $3.95 billion and $4.02 billion in revenue.

Analysts expected earnings of $2.50 per share, with estimates ranging from $2.40 to $2.62. Revenue is expected to come at $4 billion with estimates ranging from $3.95 billion to $4.04 billion.

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Its shares rose $3.60, or 9.42 percent, to $41.83 in opening trading and made a new 52-week high of $42.35.

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