Williams-Sonoma Lifts Outlook on Holiday Sales Boom

January 13, 2010  by in UnCategorized   

By Home Furnishings Business in on January 14, 2010 Home furnishings retail group Williams-Sonoma (WSM) raised its fiscal fourth-quarter forecast and reported sales rose 7.4 percent during the holidays.

Led by a turnaround in sales at Pottery Barn, Williams-Sonoma last quarter swung to a third-quarter profit. In addition to Pottery Barn and Williams-Sonoma, the company also operates West Elm.

Williams-Sonoma expects fourth-quarter earnings of 69 cents to 74 cents a share on revenue of $1.06 billion to $1.08 billion, compared with its November view of 36 cents to 45 cents on revenue of $970 million to $1.03 billion.

For the eight weeks ended Dec. 28, Williams-Sonoma said revenue rose to $783 million, including a same-store sales increase of 6.5 percent.

Williams-Sonoma also forecast revenue growth excluding store closings for the upcoming fiscal year in the low-single digits on percentage basis, with per-share earnings growth of 10 percent to 15 percent.