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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (94759)	11/15/2007 2:02:24 PM
From: Perspective	Read Replies (1) \| Respond to of 306849

(WSM) Lester? Isn't that the same idiot that was cooing about the future within the past couple months? Yep - it was. This guy's going to be looking for a lawyer soon if he keeps this stuff up. Wish I'd sold more: marketwatch.com Williams-Sonoma spikes on upped outlook By William Spain, MarketWatch Last Update: 10:27 AM ET Aug 29, 2007 PrintPrint EmailE-mail Subscribe to RSSSubscribe to RSS DisableDisable Live Quotes CHICAGO (MarketWatch) -- Shares of Williams-Sonoma Inc. were on the rise Wednesday, gaining as much as 10% after the house wares retailer reported a slump in second-quarter profit but said sales were brisk and lifted its earnings view for the full year. Before the start of trading, San Francisco-based WSM 28.92, -1.34, -4.4%) said that it earned $26 million, or 23 cents a share, on the period -- down 27% from $35.6 million, or 30 cents, in the year-earlier period. Revenue came in at $859.4 million, up 4.1% while sales at stores open at least a year rose 1.2% The average estimate of analysts polled by Thomson Financial had been for Williams-Sonoma to earn 16 cents a share on revenue of $862 million of sales. Looking ahead, the company affirmed its estimates for third- and fourth-quarter earnings but upped its full-year adjusted earnings outlook to a range of $1.82 to $1.90 a share vs. a current Wall Street view of $1.78. "While the home furnishings macro-environment continued to be challenging in the second quarter, the strength of our brands and strong execution once again allowed us to deliver better than expected earnings," said Howard Lester, chief executive, in the earnings report. "What was particularly encouraging about these results was the strong performance of our emerging brands and the improving trend we saw in Pottery Barn, which we believe was driven by early successes in the rollout of our Pottery Barn revitalization initiatives." In a note to investors, Armando Lopez of Morgan Stanley wrote that while the company's "sales were slightly lower than expected [the] margin was much stronger. Comparable sales came in better than plan with strength at Pottery Barn and outlets." All told, "the results continue to give us confidence in our thesis that Pottery Barn can be turned," he added. Shares were up 6.2% at $31.40 in morning action after spiking to $32.85 out of the open. End of Story `BC