Williams-Sonoma Profits Climbed More Than 50 Percent Dec 3, 2003

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Williams-Sonoma Inc., an upscale housewares retailer, has announced that its quarterly profit climbed more than 50 percent, as demand for domestic goods held strong and it cut costs.

The San Francisco, CA, U.S.-based operator of the Williams-Sonoma and Pottery Barn chains said net income in the third quarter was U.S. $23.9 million, or $.20 per share, compared with $15.1 million, or $0.13, in the year-ago period.

Analysts expected $0.19 per share on average, according to Reuters Research, a unit of Reuters Group PLC.

The retailer also raised its fourth-quarter sales forecast, but maintained its earnings outlook because it plans to spend more on catalog mailings and an expansion of its distribution square footage. (Reuters)

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