Strong December Boosts Williams-Sonoma Fourth Quarter
Posted on January 14, 2010 by
SAN FRANCISCO-After recording a successful holiday period, Williams-Sonoma has issued a rosier forecast for its fourth quarter.
The retailer said in a statement that it now expects fourth-quarter revenue to reach $1.08 billion, up from the previous prediction of $1.06 billion. Williams-Sonoma has based this forecast on a 7.4 percent rise in holiday-period sales, which included a strong same-store sales increase of 6.5 percent.
Commenting on the holidays, Howard Lester, chairman and chief executive officer of Williams-Sonoma, said, "Revenues, selling margins and controllable expenses all exceeded the high end of our expectations." Looking ahead to this year, Lester said the company will continue its focus from 2009 of gaining both in both profitability and market share.