Williams-Sonoma Shares Drop After Outlook, Earnings Miss

Williams-Sonoma Inc. shares dropped in the extended session Wednesday after the high-end home furnishings retailer's outlook and quarterly results fell short of Wall Street estimates. Williams-Sonoma shares fell 6.4% to $55.65 after hours. The company forecast adjusted first-quarter earnings of 48 cents to 52 cents a share on revenue of $1.07 billion to $1.09 billion. Analysts surveyed by FactSet had estimated earnings of 55 cents a share on revenue of $1.1 billion. Williams-Sonoma reported fourth-quarter earnings of $1.55 a share on revenue of $1.59 billion. Analysts had expected earnings of $1.58 a share on revenue of $1.62 billion.