By Kathryn Hardison
Williams-Sonoma Inc. on Wednesday reported better-than-expected first-quarter earnings on higher sales at its Pottery Barn and West Elm stores and improved margins.
The San Francisco-based kitchenware and home furnishing retailer reported a profit of $254.1 million, or $3.50 a share, compared with $227.8 million, or $2.90 a share, in the same quarter a year ago. Analysts polled by FactSet expected $2.90 a share.
Total sales rose to $1.89 billion in the first quarter, ahead of analyst expectations of $1.81 billion in sales.
Comparable brand sales rose 9.5% overall, with Pottery Barn up 14.6% and West Elm up 12.8%. That was offset by a 2.2% decline at Williams Sonoma and a 3.1% drop at Pottery Barn Kids and Teen.
Shares rose 17.8% in after-hours trading Wednesday, following a 9% increase in the regular trading session amid a broad rebound for stocks of retail companies.
Write to Kathryn Hardison at firstname.lastname@example.org