The company reported non-GAAP earnings per share of $2.93 on revenue of $1.75 billion.
Williams-Sonoma had been expected to report earnings of $1.84 a share, on sales of $1.5 billion, based on a FactSet survey of 20 analysts.
In the same period a year ago the company posted earnings of 74 cents a share on sales of $1.2 billion.
“We are proud to report another record quarter of accelerating revenue and profitability with over 40% comp growth and a 950 bps expansion in our non-GAAP operating margin," said Laura Alber, president and chief executive officer, in a statement. "We are raising our full year outlook from mid-to-high single digit revenue growth to low-double digit to mid-teen revenue growth and year-over-year operating margin expansion," Alber added.
Among Williams-Sonoma's major brands, comparable year-over-year sales rose 50.9% at its West Elm stores, 41.3% at Pottery Barn, 35.3% at Williams Sonoma, and 27.6% at Pottery Barn Kids and Teen.
In April, TheStreet.com’s Jim Cramer commented favorably on Williams Sonoma during the lightning round of his Mad Money TV show.
In March, at the time of Williams-Sonoma’s last earnings report, shares rose sharply after positive earnings and upbeat company comments that put investors who had shorted the stock on the defensive. Those short the stock were anticipating the the strong online sales driven by pandemic lockdowns would fade, Cramer said. Instead, Williams-Sonoma reported better-than-expected financial results, raised its dividend and set a $1 billion share repurchase plan.
At the time, Cramer noted that those shorts “didn’t want to be Gamestop,” in reference to the meme stock whose shares rocketed higher in a January short squeeze egged on by small investors coordinating through Reddit chat rooms.
Shares of Williams-Sonoma rose $4.46, or 2.6%, to $175.75 in after-hours trading. The stock gained 2.6% in the regular session.