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Williams-Sonoma Forecasts Slower Sales

September 23, 1997|(Bloomberg News)

Williams-Sonoma Inc. shares fell almost 10% on concern that September same-store sales are slowing at the retailer's Williams-Sonoma and Pottery Barn stores. Williams-Sonoma's shares, which have risen more than 61% in the last year, fell $4.75 to $44.50 on the Nasdaq stock market. Sales at Williams-Sonoma's stores that have been open at least a year are expected to rise 1% to 2% in September, down from August's gain of 10% to 12%, analysts said. San Francisco-based Williams-Sonoma, which doesn't report monthly sales, may be suffering from a lull after August's product introductions and before the November start of the holiday shopping season. Company officials weren't immediately available for comment. Still, the company is expected to meet analysts' earnings expectations. The average third-quarter earnings estimate is for 10 cents a share, based on eight analysts surveyed by IBES International Inc.

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