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Williams-Sonoma, Inc. Announces 4th Quarter And Fiscal Year 2013 Results 4th Quarter 2013 Comparable Brand Revenues Grow 10.4%, EPS Increases To $1.38

Stocks in this article: WSM

Williams-Sonoma, Inc. (NYSE: WSM) today announced operating results for the fourth quarter of fiscal 2013 (Q4 13) and fiscal year ended February 2, 2014 (FY 13). Q4 13 included 13 weeks versus 14 weeks in the fourth quarter of fiscal 2012 ended February 3, 2013 (Q4 12). FY 13 included 52 weeks versus 53 weeks in the fiscal year ended February 3, 2013 (FY 12).

In Q4 12 and FY 12, the additional week contributed approximately $70 million in net revenues and an estimated $0.07 benefit to diluted earnings per share (EPS).

Laura Alber, President and Chief Executive Officer, commented, “Williams-Sonoma, Inc. outperformed the retail industry this holiday season, gaining market share and demonstrating the structural advantage of our multi-brand, multi-channel platform. The strength of our brands across retail and e-commerce, in conjunction with disciplined execution, enabled our team to drive record operating results.”


4 th Quarter 2013


Q4 13 net revenues grew to $1.466 billion versus $1.406 billion in Q4 12 with comparable brand revenue growth of 10.4%.


Q4 13 operating income grew to $218 million and operating margin was 14.8%.


Q4 13 EPS grew to $1.38.

Fiscal Year 2013


FY 13 net revenues increased to $4.388 billion versus $4.043 billion in FY 12 with comparable brand revenue growth of 8.8%.


FY 13 operating income grew to $452 million and operating margin was 10.3%. Excluding unusual business events, non-GAAP operating income increased to $455 million and non-GAAP operating margin was 10.4%.


FY 13 EPS grew to $2.82. Excluding unusual business events, non-GAAP EPS increased to $2.84.


Cash returned to stockholders totaled $351 million, comprising $239 million in stock repurchases and $112 million in dividends.

Alber continued, “Throughout the year we kept our focus on the customer by providing a differentiated and highly relevant experience. At the same time, we executed our strategic plan, investing in our brands and the supporting infrastructure to ensure sustainable long-term growth both domestically and around the world. The results speak for themselves: we delivered strong top and bottom line performance, which combined with over $350 million in share repurchases and dividends generated superior returns for our stockholders.”

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