Home furnishing retailer Williams-Sonoma Inc., which owns the Pottery Barn and West Elm brands, said Monday its fourth-quarter profit rose 6 percent and initiated its first quarterly cash dividend. The company also said it expects double-digit revenue growth to drive its profit well above Wall Street estimates in the coming year.
Net income grew to $120.8 million ($1.02 per share) in the three months ended Jan. 29 from $113.7 million (95 cents) a year ago. Excluding a charge for its consolidation of the Hold Everything brand, the company reported earnings per share of $1.09 for the latest quarter. Revenue rose 12 percent to $1.21 billion from $1.08 billion last year.
