WILLIAMS-SONOMA WKN: 867980 ISIN: US9699041011 Kürzel: WSM Forum: Aktien Thema: Hauptdiskussion

FISCAL YEAR 2025 HIGHLIGHTS • Comparable brand revenue +3.5%. • Gross margin of 46.2% -30bps to LY driven by (i) the impact of -70bps from the prior year out-of-period freight adjustment in Q1 FY24, (ii) lower merchandise margins of -40bps and (iii) occupancy deleverage of -20bps, partially offset by (iv) supply chain efficiencies of +50bps and (v) favorable physical inventory results of +50bps. Occupancy costs of $820 million, +3.4% to LY. • SG&A rate of 28.0% +10bps to LY driven by (i) higher general expenses of +20bps and (ii) higher performance-based incentive compensation of +20bps, partially offset by (iii) lower advertising expenses of -30bps. SG&A of $2.19 billion, +1.6% to LY. • Operating income of $1.42 billion with an operating margin of 18.1%. -50bps to LY, including the impact of -70bps from the prior year out-of-period freight adjustment in Q1 FY24. The additional week in fiscal 2024 contributed -20bps. • Record diluted EPS of $8.84 +0.6% to LY. • ROIC of 42.3% and Adjusted ROIC of 51.6%. • Maintained strong liquidity position of $1.0 billion in cash and $1.3 billion in operating cash flow enabling the company to deliver returns to stockholders of nearly $1.2 billion through $854 million in stock repurchases and $316 million in dividends. Stock repurchase authorization of $1.3 billion remaining under our stock repurchase program. DIVIDEND INCREASE • In March 2026, we increased our quarterly dividend 15%, or $0.10, to $0.76 per share. OUTLOOK • In fiscal 2026, we expect annual net revenues in the range of +2.7% to +6.7%, with comps in the range of +2.0% to +6.0%; and an operating margin between 17.5% to 18.1%. • Our guidance includes (i) no refund of International Emergency Economic Powers Act tariffs paid, (ii) all tariff rates currently in place remain for fiscal 2026, including the Section 232 tariffs, the current Section 301 tariffs and the Section 122 tariffs, and (iii) the impact of tariffs will be front-loaded in the first half of fiscal 2026 as the tariffs flow through our weighted average cost of goods sold. Although the Section 122 tariffs expire in July 2026, our guidance assumes that these will be replaced with tariffs at a similar rate. • Over the long term, we continue to expect mid-to-high single-digit annual net revenue growth with an operating margin in the mid-to-high teens.

https://www.tradingview.com/news/tradingview:dc6eb4455209b:0-williams-sonoma-inc-announces-second-quarter-2025-results/

https://www.tradingview.com/news/tradingview:527886ebb3b3c:0-williams-sonoma-inc-announces-first-quarter-2025-results/

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https://ir.williams-sonomainc.com/investor-information/news-releases/news-release-details/2025/Williams-Sonoma-Inc--announces-fourth-quarter-and-fiscal-year-2024-results/default.aspx

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OUTLOOK We are raising our fiscal 2024 guidance to reflect higher net revenue trends and higher operating margin expectations. In fiscal 2024, we now expect annual net revenue decline in the range of -3.0% to -1.5% with comps in the range of -4.5% to -3.0% in fiscal 2024. We are raising our guidance on our operating margin for fiscal 2024. We now expect an operating margin between 18.4% to 18.8%, including the impact of the first quarter out-of-period adjustment of 60bps. Without this adjustment, we expect an operating margin between 17.8% to 18.2% in fiscal 2024. For fiscal 2024, we expect annual interest income to be approximately $50 million and our annual effective tax rate to be approximately 25.0%. Fiscal 2024 is a 53-week year. Our financial statements will be prepared on a 53-week basis in fiscal 2024 and a 52-week basis in fiscal 2023. However, we will report comps on a 53-week versus 53-week comparable basis. All other year-over-year comparisons will be 53-weeks in fiscal 2024 versus 52-weeks in fiscal 2023. We expect the additional week in fiscal 2024 to contribute 150bps to net revenue and 10bps to operating margin, both of which are reflected in our guidance. Over the long term, we continue to expect mid-to-high single-digit annual net revenue growth with an operating margin in the mid-to-high teens.

THIRD QUARTER 2024 HIGHLIGHTS Comparable brand revenue -2.9%. Gross margin of 46.7% +230bps to LY driven by (i) higher merchandise margins of +130bps and (ii) supply chain efficiencies of +100bps. Occupancy rate flat to LY, with occupancy costs of $195 million, -2.7% to LY. SG&A rate of 28.9% +150bps to LY driven by higher employment and advertising expense, partially offset by lower general expenses. SG&A of $521 million, +2.7% to LY. Operating income of $321 million with an operating margin of +17.8%. +80bps to LY. Diluted EPS of $1.96. +7.1% to LY. Merchandise inventories +3.8% to the third quarter LY to $1.45 billion. Maintained strong liquidity position of $827 million in cash and operating cash flow of $254 million, enabling the company to deliver returns to stockholders of $606 million through $533 million in stock repurchases and $73 million in dividends. STOCK REPURCHASE AUTHORIZATION In September 2024, the Board of Directors approved a new $1 billion stock repurchase authorization, which will become effective once the Company’s current stock repurchase authorization, announced in March 2024, is fully utilized. Including the balance of $293 million remaining under our March 2024 program, the total stock repurchase authorization is currently $1.3 billion.

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https://www.wallstreet-online.de/nachricht/18409925-williams-sonoma-inc-announces-second-quarter-2024-results

https://www.wallstreet-online.de/nachricht/18120895-williams-sonoma-inc-announces-first-quarter-2024-results

https://ir.williams-sonomainc.com/investor-information/news-releases/news-release-details/2024/Williams-Sonoma-Inc.-announces-fourth-quarter-and-fiscal-year-2023-results/default.aspx

https://ir.williams-sonomainc.com/investor-information/news-releases/news-release-details/2023/Williams-Sonoma-Inc.-announces-third-quarter-2023-results/default.aspx

https://www.marketwatch.com/story/williams-sonoma-shares-climb-on-stock-purchases-by-equity-funds-403a5aee

SECOND QUARTER 2023 HIGHLIGHTS • Comparable brand revenue -11.9% with a 2-year comp -0.6% and a 4-year comp +39.7%. • Gross margin of 40.7% -280bps to LY with selling margin -90bps due to higher shipping and freight costs, and occupancy deleverage of 190bps. Occupancy costs +5.3% to $203 million. • SG&A rate of 26.1% -30bps to LY driven by employment and advertising leverage. SG&A -13.7% to $486 million. • Operating income of $272 million with an operating margin of 14.6%. • Diluted EPS of $3.12 per share. • Merchandise inventories -16% to $1.3 billion. • Cash at quarter-end of $514 million with no borrowings outstanding. • Operating cash flow of $372 million funding dividends and stock repurchases. OUTLOOK • We are revising our fiscal 2023 guidance to reflect lower net revenue trends and higher operating margin expectations. The net effect of these changes holds earnings materially in line with our prior implied EPS guidance. • In fiscal 2023, we now expect net revenue growth in the range of -5% to -10% with an operating margin between 15% to 16%. • Over the long-term, we continue to expect mid-to-high single-digit annual net revenue growth with operating margin above 15%.