'I think that you're better off preparing for the worst,' Laura Alber said in a one-on-one interview with 'Mad Money's' Jim Cramer Monday.
In December, Williams-Sonoma announced that it would open a facility in Tupelo, Mississippi, in January and add hundreds of jobs to manufacture upholstered furniture. Alber said it's beneficial to bring jobs back to the United States because "the cost from the freight coming from Asia offsets the costs of the labor," as the company learned after opening its first Sutter Street Manufacturing unit in North Carolina.
The company also renegotiated contracts with manufacturers in that country in order to reduce costs and prices, Alber said. Williams-Sonoma won't be successful in halting all costs for consumers, but price increases will be "selective," she added. "We've been very careful and studying where we should do that, but more importantly we're reducing costs," she said. "So reducing costs, not just on the cost of goods by moving them, but also in other parts of our company."
Williams-Sonoma reported 3.7% of revenue growth in its fourth quarter earnings report and gave guidance that one Morgan Stanley analyst called "seemingly optimistic." The retailer expects comparable brand revenue growth of between 2% and 5% and earnings per share of up to $4.70 for 2019. Shares of the San Francisco-based firm are up 8.52% over the past 12 months and 3.53% this year. The stock fell about 5% Monday.
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