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Shares of Williams-Sonoma (WSM) - Get Williams-Sonoma Inc. (DE) Report climbed nearly 3.4% to $58.76 Thursday after the specialty retailer beat Wall Street's fourth quarter earnings expectations.

The San Francisco-based company reported earnings of $155 million, or $1.93 a share, up from $96 million, or $1.13, a year ago. Adjusted earnings came to $2.10 a share, ahead of FactSet's consensus of $1.96. Revenue totaled $1.8 billion, up 9% from a year and matched the FactSet figure of $1.8 billion.

For the year, net revenue grew 7.2% to $5.7 billion.

Looking ahead, Williams-Sonoma called for 2019 revenue between $5.67 billion and $5.84 billion, and earnings between $4.50 and $4.70 a share.

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Separately, the company's board approved an 11.6% increase in the quarterly cash dividend to 48 cents a share. The quarterly dividend is payable on May 31, to stockholders of record as April 26. The board also increased the amount available for repurchases under its existing stock repurchase program by $500 million.

Williams-Sonoma operates such brands as Pottery Barn, Pottery Barn Kids, Williams-Sonoma Home, and West Elm. 

Laura Alber, president and CEO, said in a statement that the company "will continue to improve the customer experience through technology innovation and supply chain optimization."

"We believe this is our oxygen for growth," Alber said. "We have built over time a vertically integrated supply chain and a highly unique platform to launch and scale new brands and businesses."