Williams-Sonoma Posts Third Quarter Earnings, Beats EPS Estimates

Williams-Sonoma announced third quarter financial results after the closing bell on Wednesday. The company posted net income of $0.68 per share, beating analyst estimates of $0.63 and ten cents higher than the year-ago quarter. As for revenue, sales came in at $1.14 billion, slightly higher than Wall Street's expectation of $1.12 billion. Last year's sales stood at $1.05 billion. The company also repurchased about 1.2 million shares of common stock during the third quarter at an average price of $66.70 per share. It also raised fourth-quarter guidance with comparable brand revenue growth during fourth quarter expected to range from 4-6%. TheStreet's Scott Gamm has details from New York.