Williams-Sonoma (WSM) Sales Up 17.3%, Swings To Profit

Williams-Sonoma Inc WSM released financial results on Thursday morning that beat Wall Street estimates. Williams-Sonoma Inc reported that it swung to a 1st quarter profit of $19.5 million, or 18 cents per share, from a loss of $18.7 million, or 18 cents per share, a year earlier. Excluding special items, earnings came in at 23 cents per share. Sales surged 17.3% to $717.6 million, up from $611.6 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 12 cents per share. The company said it expects 2nd quarter earnings of 16 cents to 20 cents per share and full-year earnings of $1.39 to $1.48 per share. The closing price of Williams-Sonoma Inc on Wednesday was $28.44 per share.