Tags: Williams-Sonoma | Sales | Forecast | Estimates

Williams-Sonoma Sales Forecast Exceeds Estimates

Wednesday, 12 Mar 2014 06:08 PM

Shares of Williams-Sonoma Inc., the San Francisco-based seller of cookware and home furnishings, jumped in late trading Wednesday after its sales forecast exceeded estimates.

The company expects same-store sales growth of 5 percent to 7 percent this year, according to a statement, compared with the 3.7 percent estimated by analysts on average. Revenue will reach $4.63 billion to $4.71 billion, Williams-Sonoma predicted. Analysts had projected a number at the low end of that range, according to data compiled by Bloomberg.

Williams-Sonoma has benefited from a U.S. housing recovery, which has motivated shoppers to refresh their homes. Chief Executive Laura Alber’s drive to add exclusive merchandise to fend off online competition also has paid off, fueling a fourth- quarter sales turnaround at the retailer’s namesake kitchenware chain. The company saw growth at its Pottery Barn and West Elm chains as well.

“Williams-Sonoma Inc. outperformed the retail industry this holiday season, gaining market share and demonstrating the structural advantage of our multibrand, multichannel platform,’’ Alber said in the statement.

At 6 p.m. in New York, the shares were up 6.8 percent at $62.99 in extended trading, after closing nearly unchanged at $58.97. The stock had climbed 1.2 percent this year through the close of trading, in line with the Standard & Poor’s 500 Index.

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Shares of Williams-Sonoma Inc., the San Francisco-based seller of cookware and home furnishings, jumped in late trading Wednesday after the company's sales forecast exceeded estimates.
Williams-Sonoma,Sales,Forecast,Estimates
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2014-08-12
Wednesday, 12 Mar 2014 06:08 PM
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