SAN FRANCISCO–Williams-Sonoma has lowered its guidance for revenue and diluted earnings per share for the third and fourth quarters, as well as for fiscal year 2008. For the third quarter, the company has announced expected net revenues in the range of $732 to $742 million versus the prior guidance of $802 to $820 million. Diluted earnings per share will be in the range of <$0.12> to <$0.10> instead of $0.00 to $0.04.
Net revenues for the fourth quarter are now expected to be in the range of $940 million to $1 billion, rather than the previously announced $1.168 to $1.216 billion. Diluted earnings per share will be in the range of $0.10 to $0.30 versus $0.76 to $0.86.
For the fiscal year, ending February 1, 2009, the net revenues are now expected to fall in the range of $3.274 to $3.344 billion, versus prior guidance of $3.572 to $3.638 billion. Diluted earnings per share will be in the range of $0.25 to $0.47 versus the prior guidance of $1.03 to $1.15.