Williams-Sonoma, Inc. said it will meet its third-quarter earnings guidance—$0.05 to $0.07 per share —despite the events of Sept. 11. But revenue will be less than expected.
The retailer expects net revenue will hit from $460 million to $470 million, down from its original projection of $478 million to $492 million. Direct-to-customer sales growth was expected to be flat, or slightly negative.
“The timing of the Sept. 11 events was such that we were able to adjust the late third and fourth quarter catalog circulation plans and put into effect aggressive cost reduction and inventory management programs,” said Dale Hilpert, CEO, in a statement. “Our customers’ behavior has clearly been affected by world events and we are remaining flexible in our business decisions.”
The firm expects full-year revenue to hit $2.06 billion to $$2.08 billion, down from the previous guidance of up to $2.1 billion.
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