Home improvement retailers are reaping the rewards of a healthier housing market and so is Williams-Sonoma. The company reported strong third quarter results and raised its fourth quarter outlook as a result.
Best Buy today announced that retired director, EVP, chief operating and CFO of Williams-Sonoma, Inc., Sharon McCollam, will join the company as its new chief administrative and CFO, effective Dec. 10, according to a Reuters report.
Williams-Sonoma Inc. reported that first-quarter profit dipped to $30.7 million, from $31.6 million last year, but results topped Wall Street estimates and the retailer has raised its full-year earnings forecast.
In what can only be a sign that the economic health of the country is improving -- at least for for higher-income consumers, Williams-Sonoma announced that net revenues for the fourth quarter of 2010 increased 9.7% to $1.195 billion versus $1.09 billion in the fourth quarter of 2010, including Internet net revenue growth of 27.2% and a comparable-store sales increase of 5.2%.