Williams-Sonoma Boosts Q4 Forecast on Stronger Holiday Sales (WSM)

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Home furnishings retailer Williams-Sonoma, Inc. ( WSM ) 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 $865 million.

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 ( WSM ) 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. ( WSM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks


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