Williams-Sonoma's ( WSM) fourth-quarter earnings rose 6% from a year ago, restrained by a charge related to the winding-down of its Hold Everything retail chain. The yuppie home outfitter earned $120.8 million, or $1.02 a share, in the quarter, compared with $113.7 million, or 95 cents a share, a year ago. The latest quarter included a charge of 7 cents a share related to Hold Everything. Adjusted for the charge, earnings matched the Thomson First Call consensus estimate of $1.09 a share. Fourth-quarter revenue rose 12.1% to $1.21 billion; the consensus estimate was $1.22 billion. The company said retail revenue rose 10.8% to $756.9 million, with the balance representing catalog and Internet sales. By segment, same-store sales rose 5.9% at Williams-Sonoma and rose 5.6% at Pottery Barn. Excluding the Hold Everything charge, gross margin was 44% in the latest quarter, down from 44.8% a year ago. The company cited higher inventory shrinkage, increased direct-to-customer shipping costs, expenses associated with store replenishment and higher markdowns for the decline. For the first quarter, Williams-Sonoma expects to earn 21 cents to 23 cents a share before items on revenue of $789 million to $803 million. Analysts were expecting 18 cents a share on sales of $804.6 million. For 2007, the company sees earnings of $2.15 to $2.19 a share on sales of $3.90 billion to $3.97 billion. Analysts were expecting earnings of $1.98 a share on sales of $3.98 billion.