Williams-Sonoma, Inc. Increases Q1, Q2 and Fiscal Year 2002 Guidance; Implements Direct-to-Customer Revenue Recognition Policy in Q4 2001.

Business WireApril 17, 2002

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Williams-Sonoma, Inc. Increases Q1, Q2 and Fiscal Year 2002 Guidance; Implements Direct-to-Customer Revenue Recognition Policy in Q4 2001.

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--April 17, 2002

Williams-Sonoma, Inc. Increases First Quarter, Second Quarter, and

Full Year Fiscal Year 2002 Guidance

WILLIAMS-SONOMA, INC. (NYSE:WSM) Williams-Sonoma, Inc. announced today that it is increasing its first quarter 2002 diluted earnings per share guidance to $0.17 to $0.19 versus previous guidance of $0.03 to $0.04 and a First Call consensus estimate of $0.04. The Company is also increasing its second quarter 2002 diluted earnings per share guidance to $0.07 to $0.09 versus previous guidance of $0.04 to $0.05 and a First Call consensus estimate of $0.05. The Company's fiscal 2002 diluted earnings per share guidance, as a result of the increases in the first and second quarters, is being increased to $1.69 to $1.75 from previous guidance of $1.52 to $1.56 and a First Call consensus estimate of $1.56.

The increase in diluted earnings per share for the first and second quarters of fiscal 2002 is primarily driven b...

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