Williams-Sonoma swings to a loss
Times Staff and Wire Reports
Gourmet-cookware chain Williams-Sonoma Inc. reported a smaller third-quarter loss than analysts had estimated as it kept a lid on inventories and catalog costs.
The company reiterated its profit forecast of as much as 47 cents a share for the year. It also terminated a plan to buy back $150 million in shares.
The net loss was $11 million, or 10 cents a share, compared with net income of $27.1 million, or 25 cents, a year earlier, the San Francisco retailer said. Revenue sank to $752.1 million in the three months through Nov. 2 from $895.1 million in the third quarter of 2007.
