Williams-Sonoma, Inc. Announces Record Third Quarter Diluted EPS Of $0.35

Williams-Sonoma, Inc. WSM today announced operating results for the third quarter of fiscal 2010, which ended on October 31, 2010 (“Q3 10”). Laura Alber, President and Chief Executive Officer, commented, “We continue to be pleased with the financial and operational performance of our brands. During the third quarter, year-over-year net revenues increased 12% and we delivered the highest third quarter diluted EPS in our history. Non-GAAP diluted EPS for the quarter was $0.35, a $0.19 improvement over last year.” Ms. Alber continued, “As we enter the fourth quarter, we are continuing to see a positive consumer response to our merchandising, marketing and customer service strategies, including the new strategies we have launched for this year's holiday season. "As such, we are increasing our fourth quarter and full year guidance despite recent softness in the broader home furnishings industry overall. Net revenues in the fourth quarter are now expected to increase in the range of 3% to 6% and non-GAAP diluted EPS to be in the range of $0.88 to $0.93 versus $0.86 last year. For the full year, we are expecting net revenues to increase in the range of 11% to 12% and non-GAAP diluted EPS to be in the range of $1.75 to $1.80 versus $0.95 last year.”