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Filing in Focus: Williams-Sonoma 8-K, November 20, 2013
Williams-Sonoma Inc. (WSM) announced its financial results for the third fiscal quarter 2013, reporting profits that rose 16%. The home furnishings retailer, which operates under its namesake as well as Pottery Barn, Pottery Barn Kids, and West Elm, issued an optimistic outlook for the remainder of the year. Revenue increased 11% to $1.05B while earnings jumped from $48.9M and $0.49 per share to $56.7M and $0.58 per share. This handily beats the company’s previously issued expectation ranges of $0.51 to $0.54 per share and between $1.02B and $1.04B in revenue. Overall same-store sales increased 8.2%, well above the 4% to 6% growth projection, while its gross margin shrunk slightly from 39% to 38.6%. The company raised its annual guidance, expecting earnings per share between $2.76 and $2.83 on revenues between $4.29B and $4.35B. President and CEO Laura Alber believes the company is superbly positioned going into the holiday season.