Williams-Sonoma Removes Lease Expense

Williams-Sonoma Inc., the owner of home furnishings retail chains including Pottery Barn, eliminated a lease accounting expense, boosting its fourth-quarter net income to 95 cents a share.

The company, which reported a 9-cents-a-share expense March 22 and reversed it on advice from the Securities and Exchange Commission and auditors, increased its earnings forecast for this year by 1 cent a share because of the accounting change.