Williams-Sonoma Spikes
NEW YORK (
) -
Williams-Sonoma
(WSM) - Get Report
is spiking after it beat fourth-quarter estimates with help from a turnaround at its Pottery Barn division.
But the company's earnings results doesn't give much pull to those bullish or bearish on the stock, J.P. Morgan analyst Christopher Horvers wrote in a note. "Net-net, we believe the results were largely reflected in the stock and with the big quarters now seemingly in the distant future, neither side is proved or disproved by the report."
Still, shares are spiking 9.7% to $26.48 in Monday morning trading.
During the quarter, the home furnishing retailer earned $88.4 million, or 81 cents a share, compared with $12.2 million, or 12 cents, in the year-ago period.
Excluding items, Williams-Sonoma actually earned 86 cents a share, significantly higher than Wall Street's forecast of 74 cents.
Revenue increased 8% to $1.09 billion, as same-store sales jumped 7.6%. By division, comparable sales rose 5.9% at namesake stores, 11.5% at Pottery Barn and 12.3% at PB Kids.
Looking ahead, the company foresees full-year earnings in the range of $1.16 to $1.26 a share, while analysts are calling for a profit of $1.02 a share.
Williams-Sonoma also increased its dividend by a penny to 13 cents a share. The dividend will be paid on May 24 to shareholders of record April 27.
-- Reported by Jeanine Poggi in New York.
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