Williams-Sonoma Inc. (WSM - Free Report) , a home furnishing retailer, recently launched its new Spring 2013 catalog as well as a fresh look for its Williams-Sonoma Home brand of furnishings and home decor items.
The new Spring Collection will feature 3 styles – New Traditional, Beach Chic and Rustic Modern. Under the new look, one can choose from a range of exquisitely designed products made from materials such as brass, stone, nickel, cashmere and oak. All merchandise under the Williams-Sonoma Home brand are available online as well in its 3 stores located in New York City, Portland and San Francisco.
Last month, WSM also announced solid fourth quarter results, beating the Zacks Consensus Estimate for both earnings and revenues. Earnings of $1.34 increased 15% while revenues grew almost 11% year over year.
At the fourth quarter conference call, Williams-Sonoma board authorized a 41.0% increase in its dividend and a new stock buyback plan. WSM increased its quarterly dividend to 31 cents from 22 cents.
This marks an annual dividend of $1.24 per share, resulting in a current dividend yield of 2.4%. The new stocks repurchase plan authorizes buyback of shares worth $750 million. The plan is intended to be executed over the next 3 years.
Williams-Sonoma carries Zacks Rank #3 (Hold). Other stocks in the retail furnishing industry that are currently performing well include Fortune Brands Home & Security, Inc. (FBHS - Free Report) – Zacks Rank #1 (Strong Buy) and Ethan Allen Interiors Inc. (ETH - Free Report) – Zacks Rank #2 (Buy). A home improvement company worth mentioning is Masco Corporation (MAS - Free Report) , carrying Zacks Rank #2 (Buy).