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Williams-Sonoma cuts Q4 outlook
San Francisco -- Williams-Sonoma Inc. said Thursday it has cut its fiscal Q4 earnings outlook below Wall Street expectations due to heavy holiday promotions levels.
The company said it had to offer discounts to entice shoppers this holiday season. Although earnings guidance has been reduced to below expectations, Williams-Sonoma’s revenue outlook remains in line with Wall Street, trimmed to a range of $1.24 billion to $1.26 billion. The company had previously expected revenue as high as $1.27 billion.
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Glen Senk named CEO of David Yurman
New York City -- David Yurman on Wednesday announced that Glen T. Senk will join the fine-jewelry company as CEO, effective Feb. 27. Senk, who on Tuesday announced he was stepping down as CEO of Urban Outfitters, will take an ownership stake in the privately owned company.