Williams-Sonoma raises full-year forecast, shares rise

Tue Aug 21, 2012 4:46pm EDT

Aug 21 (Reuters) - Williams-Sonoma Inc's quarterly results beat Wall Street expectations and the furniture retailer raised its full-year profit outlook for 2012 for the second time this year, driven by higher sales at Pottery Barn and West Elm stores.

Shares of the company rose 8 percent in extended trading.

The company expects to earn between $2.44 and $2.51 per share for the year, up from its previous outlook of $2.42 to $2.49 per share.

Analysts on average were expecting the company to earn $2.50 per share, according to Thomson Reuters I/B/E/S.

Second-quarter profit rose to $43.4 million, or 43 cents per share, from $39.3 million, or 37 cents per share.

Revenue rose 7 percent to $874.3 million.

Analysts had expected the company to earn 41 cents per share, on revenue of $864.4 million for the second quarter.

The company's shares were up at $41.41 in after-market trading. They had closed at $38.23 on Tuesday on the New York Stock Exchange.