Williams-Sonoma: Q1 Earnings Top Forecast

Strong sales at Pottery Barn and West Elm stores drive growth

   

Williams-Sonoma (NYSE:WSM) posted first-quarter earnings of $30.7 million, down from $31.6 million, during the same period last year.

Adjusted EPS for the first quarter was 34 cents, which topped Wall Street’s prediction of 32 cents, Reuters noted.

Household Williams Sonoma 2 200x200 Williams Sonoma: Q1 Earnings Top Forecast
The Running of the Retailers: Earnings Winners and Losers

The company said sales hit $817.6 million for the quarter, up 6% from last year. That also beat analysts who forecast sales of $811.7 million.

Shares of William-Sonoma rose almost 4% in early Tuesday trading, moving above $36 a share.

Same-store sales at the company’s Pottery Barn stores increased 9.1%. Sales at its West Elm furniture stores jumped 22.1% during the quarter.

The San Francisco-based company increased its guidance for the year to between $2.42 and $2.49 per share in adjusted earnings, up from earlier estimates of between $2.37 to $2.47 per share.

Analysts cited by Reuters said the quarterly results were “impressive” in light of the departure of William-Sonoma’s long-time CFO in March.

The company also announced on Monday that former editor-in-chief at Martha Stewart Living Omnimedia’s (NYSE:MSO) Everyday Food, Anna Last, has been appointed its senior vice president and creative director.


Article printed from InvestorPlace Media, http://investorplace.com/2012/05/williams-sonoma-q1-earnings-top-forecast/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.