Home furnishings retailer Williams-Sonoma, Inc. (
) on Thursday raised its fiscal fourth quarter earnings forecast,
citing higher-than-expected holiday sales.
The company said that same-store sales in the eight-week holiday
period rose 5% from last year, while total sales were up 11% to
For the fourth quarter, the company now expects a profit of 92
to 94 cents per share, or 96 to 98 cents on an adjusted basis.
Fourth quarter revenue is now forecast to rise 7% to 9%. On
average, Wall Street analysts are expecting an adjusted profit of
94 cents per share for the quarter.
Despite the higher forecast, Williams-Sonoma shares fell 57
cents, or -1.7%, in premarket trading Thursday.
The Bottom Line
Shares of William-Sonoma (
) have a 1.76% dividend yield, based on last night's closing stock
price of $34.18. The stock has technical support in the $30-$32
price area. If the shares can firm up, we see overhead resistance
around the $36-$40 price levels.
Williams-Sonoma, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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