Williams-Sonoma Shares Jump On Strong First-quarter Earnings

Shares of Williams-Sonoma Inc. jumped in Wednesday's extended session after the kitchenware retailer posted better-than-expected quarterly results. Williams-Sonoma reported its first-quarter earnings came in at $39.6 million, or 45 cents a share, mostly flat compared with $39.6 million, or 44 cents a share, a year earlier. On an adjusted basis, the company would have earned 51 cents a share. Revenue edged up to $1.11 billion from $1.10 billion. Analysts surveyed by FactSet had forecast earnings of 49 cents a share on revenue of $1.11 billion. The San Francisco-based company projected second-quarter earnings per share of 55 cents to 61 cents and revenue in a range of $1.2 billion to $1.23 billion. For the full year, Williams-Sonoma expects adjusted EPS of $3.45 to $3.65 and revenue of $5.17 billion to $5.27 billion. Shares gained more than 7% after hours.