Williams-Sonoma Ups Outlook, Sales Rise

SAN FRANCISCO ( TheStreet) -- Williams-Sonoma ( WSM) raised its fourth-quarter earnings and sales guidance following strong sales over the holiday period.

The home-furnishings retailer said it expects adjusted earnings of 96 cents to 98 cents a share, excluding certain charges. A year earlier, the company earned 86 cents a share.

Fourth-quarter revenue is expected to rise 7% to 9% to $1.17 billion to $1.19 billion.

Analysts surveyed by Thomson Reuters expect the retailer to earn 94 cents a share in the quarter on revenue of $1.15 billion.

Williams-Sonoma said comparable-store sales rose 5% in the eight weeks ended Dec. 27, 2010, while total sales jumped 10.5% to $865 million.

For the fiscal year ending this month, Williams-Sonoma expects revenue to increase between 12% and 13% with adjusted earnings of $1.83 to $1.85 a share vs. 95 cents last year.

-- Written by Joseph Woelfel

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