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Home-products retailer Williams-Sonoma (NYSE: WSM), which runs such retail brands as Pottery Barn and West Elm in addition to its namesake chain, issued Q4 numbers on Tuesday. Well, they weren't spectacular. Surprised? No, I'm sure you weren't. I mean, when you sell stuff for homes, you've got to expect that you're going to see some weakness. And there's plenty of it here.
Revenues decreased almost 27% during the quarter, and earnings per share on an adjusted basis dropped over 70% to 31 cents. That beat estimates of 16 cents per share, according to Reuters' analysts, but forgive me if I don't jump up and down over that performance. And what about same-store sales? They were mighty bad. On an overall basis, they went down by over 22%.
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