Williams-Sonoma Q3 Results Top Estimates; Boosts FY14 Outlook

(RTTNews) - Williams-Sonoma, Inc. (WSM) reported net income for the third quarter of $64.9 million or $0.68 per share, compared to $56.7 million or $0.58 per share for the year-ago quarter.

Net revenues for the third quarter rose 8.7% to $1.14 billion from $1.05 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.63 per share on revenue of $1.12 billion for the third quarter.

Looking forward to the fourth quarter, the company forecasts net revenues of $1.525 billion to $1.575 billion and earnings of $1.42 to $1.50 per share. Analysts currently expect the company to earn $1.53 per share on revenue of $1.57 billion for the fourth quarter. For the fiscal year 2014, the company now forecasts net revenues of $4.68 billion to $4.73 billion and earnings of $3.11 to $3.19 per share. Previously, the company forecast revenues of $4.645 billion to $4.725 billion and earnings of $3.07 to $3.17 per share. Analysts currently expect the company to earn $3.18 per share on revenue of $4.70 billion for the fiscal year 2014.