Williams-Sonoma Q4 Profit Meets Estimate; Outlook Weak; Boosts Dividend

(RTTNews) - Home products retailer Williams-Sonoma, Inc. (WSM) reported net income for the fourth quarter of $147.0 million or $1.57 per share, compared to $133.8 million or $1.38 per share for the year-ago quarter.

Excluding items, adjusted earnings for the latest quarter were $1.52 per share.

Net revenues for the fourth quarter rose 5.2% to $1.54 billion from $1.47 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $1.52 per share on revenue of $1.57 billion for the fourth quarter. Analysts' estimates typically excludes special items.

The impact of the west coast port slowdown is anticipated to be a $30 to $40 million reduction in net revenues and a $0.10 to $0.12 reduction in earnings per share in fiscal year 2015, which predominantly affects the first quarter guidance, the company said.

For the first quarter, the company forecasts net revenue of $990 million to $1.01 billion and earnings of $0.40 to $0.45 per share. Analysts currently expect the company to earn $0.54 per share on revenue of $1.04 billion for the first quarter.

For the fiscal year 2015, the company forecasts net revenue of $4.95 billion to $5.02 billion and earnings of $3.35 to $3.45 per share. Analysts currently expect the company to earn $3.63 per share on revenue of $5.06 billion for the fiscal year 2015.

Separately, Williams-Sonoma said that its Board of Directors has authorized a 6% increase in the company's quarterly cash dividend. The quarterly cash dividend will be increased from $0.33 to $0.35 per share and is payable on May 28 to shareholders of record on April 24.