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Williams-Sonoma, Inc. Announces Second Quarter 2013 Results Revenues Grow 12%, EPS Increases 14% To $0.49 Raises Financial Guidance For Fiscal Year 2013

Stocks in this article: WSM

Williams-Sonoma, Inc. (NYSE: WSM) today announced operating results for the 13 weeks ended August 4, 2013 (“Q2 13”) versus the 13 weeks ended July 29, 2012 (“Q2 12”).

Q2 13 Results

  • Net revenues grew 12.3% to $982 million versus $874 million in Q2 12 with comparable brand revenue growth of 8.4%.
  • Operating margin was 8.0%, equal to Q2 12.
  • Diluted earnings per share (“EPS”) grew 14.0% to $0.49 compared to Q2 12.
  • Cash returned to stockholders totaled $120 million comprising $90 million in stock repurchases and $30 million in dividends.

Laura Alber, President and Chief Executive Officer commented, “Our second quarter results demonstrate the strong demand for our brands and the profitability of our multi-channel, multi-brand platform. We generated a 12% increase in revenue and a 14% increase in diluted EPS over last year. We achieved sales and profit levels that exceeded our expectations while making investments in our growth objectives and in the infrastructure to support them.”

Alber continued, “We are on track to achieve another record year of revenue and deliver a double-digit increase in earnings per share. Due to our performance year-to-date and our confidence in the remainder of the year, we are raising our FY 2013 revenue guidance to a range of $4.26 billion to $4.34 billion and our non-GAAP diluted EPS guidance to a range of $2.69 to $2.79.”

Alber concluded, “Longer term, we remain confident in our ability to continue to grow sales, maximize profitability and capture market share as we build on our successes across brands and geographies. We are looking forward to expanding our company-owned retail presence in Australia and entering a new market in the United Kingdom later this year. Additionally, in advancement of our global expansion objectives, we are excited about today’s announcement of a multi-year franchise agreement with Store Specialists, Inc. as the franchisee for our brands in the Philippines.”

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