Williams-Sonoma, Inc. Lowers Q4 2011 EPS Guidance; Issues Q4 2011 Revenue Guidance Below Analysts' Estimates; Updates FY 2011 Guidance

Williams-Sonoma, Inc. announced that it expects fourth quarter of 2011 diluted earnings per share (EPS) to be in the range of $1.10 to $1.15 which is at or marginally below the low end of the previous guidance range of $1.15 to $1.20 due to the promotional environment during the holiday season, net revenues in fourth quarter of 2011 are now expected to increase 3.3% to 5.0% to a range of $1.235 billion to $1.255 billion. For fiscal 2011, the Company still expects to deliver record pre-tax operating profits and diluted EPS and expects net revenues to increase 5.3% to 5.8% to a range of $3.689-$3.709 billion, non-GAAP diluted EPS to be in the range of $2.16-$2.21 and GAAP diluted EPS to be in the range of $2.15 to $2.20. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS $1.19 on revenues of $1.258 billion for the fourth quarter of 2011; revenue of $3.712 billion and EPS of $2.26 for fiscal 2011.