Williams-Sonoma Q2 Profit Meets Estimate; Q3 Outlook Weak

(RTTNews) - Home goods retailer Williams-Sonoma, Inc. (WSM) reported net income for the second quarter of $53.7 million or $0.58 per share, compared to $50.7 million or $0.53 per share for the year-ago quarter.

Net revenues for the second quarter rose 8.5% to $1.13 billion from $1.04 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.58 per share on revenue of $1.11 billion for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts net revenue of $1.19 billion to $1.22 billion and earnings of $0.68 to $0.73 per share. Analysts currently expect the company to earn $0.75 per share on revenue of $1.22 billion for the third quarter.

For the fiscal ear 2015, the company continues to forecast net revenue of $4.95 billion to $5.02 billion and earnings of $3.35 to $3.45 per share. Analysts currently expect the company to earn $3.48 per share on revenue of $5.01 billion for the fiscal year 2015.