Williams-Sonoma (NYSE: WSM) announced Thursday that the company lifted its fourth-quarter and full-year expectations for the second time in two months, according to Associated Press.
In addition, the home décor retailer said earnings for 2010 will grow 10 percent to 15 percent.
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Williams-Sonoma now expects a fourth-quarter adjusted profit of 69 cents to 74 cents per share on revenue of $1.06 billion to $1.08 billion. The guidance excludes 4 cents per share, mostly related to asset impairment and terminated leases at underperforming stores.
The company boosted its adjusted earnings forecast to a range of 36 cents to 45 cents per share on sales of $970 million to $1.03 billion.
Analysts surveyed by Thomson Reuters, whose estimates typically exclude one-time items, had expected a profit of 50 cents per share on sales of $1.03 billion for the quarter.
The company returned to a profit by the third quarter and ended the year with strong holiday sales, which rose 7.4 percent to $783 million for the eight weeks ended Dec. 27.
Sales at stores open at least a year climbed 6.5 percent.
For the year, Williams-Sonoma expects earnings of 54 cents to 59 cents per share on revenue of $3.07 billion to $3.09 billion. In November, the company had increased its forecasts to a range of 43 cents to 52 cents per share for profit on revenue of $2.98 billion to $3.04 billion.
Analysts had expected a 2009 profit of 58 cents per share on sales of $3.04 billion.
Shares of the company fell 74 cents, or 3.3 percent, to $22.01 in afternoon trading.
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