Williams-Sonoma sees 4Q sales, EPS growth

SAN FRANCISCO Williams-Sonoma reported that net revenues for its fourth quarter increased 8.1% to $1.09 billion versus $1.008 billion in the fourth quarter of 2008, including a comparable-store sales increase of 7.6%.

The company reported that GAAP diluted earnings per share was 81 cents for the quarter, compared with 12 cents for the prior-year quarter. Excluding the impact of unusual business events, non-GAAP diluted EPS for the the quarter was 86 cents, compared with 31 cents per share for the prior-year quarter.

Howard Lester, chairman and CEO, commented, “While our fourth quarter results were substantially better than we expected given the continuing fragility of the economy, in 2010 we will continue to garner the benefits of the strategic and tactical initiatives that drove our success in the fourth quarter. ”