Shares of Williams-Sonoma (WSM) jumped about 8% in Thursday morning trading after the home products retailer posted better-than-expected quarterly earnings and revenue.
During its fiscal first-quarter, Williams-Sonoma said it earned $46.2 million, compared to $39.5 million in the year-ago period. EPS came in at 48 cents, which topped the 44 cents that Wall Street had been looking for, RTT News notes.
Quarterly revenue of $974.33 million was up 10% year-over-year and beat the $941.99 million that analysts had forecast.
Williams-Sonoma raised its earnings outlook for the full fiscal year from prior estimates of between $3.05 to $3.15 per share, to a new range of $3.07 to $3.17 per share. Williams-Sonoma also slightly boosted its full-year revenue guidance to between $4.645 billion and $4.725.
For the current quarter, Williams-Sonoma said it expects a profit of between 49 cents and 52 cents per share. That falls short of the 55 cents that analysts have predicted. A second quarter revenue estimate of between $1.02 billion and $1.04 billion also slightly missed the $1.05 billion projected by analysts.
On Wednesday, WSM stock closed at $63.73 per share.
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