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Williams-Sonoma puts 2011 to bed with higher profits
SAN FRANCISCO — Williams-Sonoma ended fiscal 2011 with revenue and earnings growth in its fourth quarter. The company reported that net revenues for the fourth quarter of 2011 increased 6.1% to $1.3 billion versus $1.2 billion in the fourth quarter of 2010. The company reported diluted earnings per share on a GAAP basis of $1.17 compared with $1.05 for the same period last year.
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Stein Mart Q4 income down, to focus on everyday low-pricing strategy
Jacksonville, Fla. -- Stein Mart Inc. reported Thursday that its net income fell to $5.7 million for the fiscal fourth quarter, down from $18.8 million last year. The chain said it was returning to its strategy of emphasizing everyday low prices after heavy coupon promotions took a toll on the retailer's financial performance during the past year.
Revenue for the quarter ended Jan. 28 was down nearly 3% to $328.1 million, from $336.7 million. Same-store sales were down 2.2%.