Williams-Sonoma Beats Q2 Forecasts, Shares Jump

The company raised its profit outlook for the second time this year

   

Williams-Sonoma Beats Q2 Forecasts, Shares Jump

Williams-Sonoma (NYSE:WSMposted a second-quarter profit of $43.4 million, up 10% from $39.3 million in the same period last year.

The kitchen and home-goods retailer recorded revenue of $874.3 million, up 7% from 2011. That easily beat Wall Street, which had predicted revenue of $864.4 million, Reuters noted.

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EPS for the quarter was 43 cents, which also beat the 41 cents a share analysts had expected.

Investors savored the results, sending Williams-Sonoma shares up more than 9% in Wednesday morning trading.

Company officials again increased their profit outlook for 2012. They now anticipate full-year earnings of between $2.44 and $2.51 a share, up from prior estimates of between $2.42 and $2.49 a share.

Wall Street is looking for full-year earnings of $2.50 a share.

Williams-Sonoma, which operates West Elm and Pottery Barn stores in addition to its name-brand stores, said sales at its e-commerce division jumped 13.9% over last year, hitting $361 million.

WSM is preparing to open four, company-owned Australian stores next year, its first foray outside North America.


Article printed from InvestorPlace Media, http://investorplace.com/2012/08/williams-sonoma-beats-q2-forecasts-shares-jump/.

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