Authorizes 5% dividend increase and provides financial guidance for Q1 and fiscal year 2017

SAN FRANCISCO--(BUSINESS WIRE)-- Williams-Sonoma, Inc. (NYSE: WSM) today announced operating results for the fourth fiscal quarter (“Q4 16”) and fiscal year 2016 (“FY 16”) ended January 29, 2017 versus the fourth fiscal quarter (“Q4 15”) and fiscal year 2015 (“FY 15”) ended January 31, 2016.

4th QUARTER 2016 RESULTS

					-		Q4 16 net revenues decreased 0.3% to $1.582 billion versus $1.586 billion in Q4 15 with comparable brand revenue decreasing 0.9%.
					-		Q4 16 operating margin was 13.6% versus 14.0% in Q4 15.
					-		Q4 16 diluted earnings per share (“EPS”) was $1.63 versus $1.55 in Q4 15. Excluding the net benefit of approximately $0.08 per diluted share from a one-time favorable tax adjustment, non-GAAP EPS was $1.55 in Q4 16. See Exhibit 1 for a reconciliation of GAAP to non-GAAP EPS.
					-		Cash returned to stockholders totaled $69 million, comprising $36 million in stock repurchases and $33 million in dividends.

FISCAL YEAR 2016 RESULTS

					-		FY 16 net revenues grew 2.2% to $5.084 billion versus $4.976 billion in FY 15 with comparable brand revenue growth of 0.7%.
					-		FY 16 operating margin was 9.3% versus 9.8% in FY 15. Excluding severance-related reorganization charges, non-GAAP operating margin was 9.6% in FY 16. See Exhibit 1 for a reconciliation of GAAP to non-GAAP operating margin.
					-		FY 16 diluted earnings per share (“EPS”) was $3.41 versus $3.37 in FY 15. Excluding severance-related reorganization charges of approximately $0.10 per diluted share and the net benefit of approximately $0.08 per diluted share from a one-time favorable tax adjustment, non-GAAP EPS was $3.43 in FY 16. See Exhibit 1.
					-		Cash returned to stockholders totaled $285 million, comprising $151 million in stock repurchases and $134 million in dividends.

Laura Alber, President and Chief Executive Officer, commented: “In 2016, we delivered revenues of over $5 billion, which included another year of double-digit growth across West Elm, our newer businesses Rejuvenation and Mark and Graham, and our company-owned global operations. Additionally, from an operational perspective, we executed one of our best holiday seasons and delivered an improved customer experience which is at the center of everything we do.”

Alber continued, “Entering 2017, we will continue to improve performance and increase our competitive advantage, with a focus on innovation in e-commerce, our products and service, and the retail experience. We will also remain relentlessly focused on operational excellence throughout our supply chain, driving strategies that will improve our customers’ experience across all of our brands. We are optimistic about the future and believe we have the infrastructure, strategies and talent in place to drive long-term profitable growth for our shareholders.”

4th QUARTER 2016 RESULTS

Net revenues decreased 0.3% to $1.582 billion in Q4 16 from $1.586 billion in Q4 15.

Comparable brand revenue in Q4 16 decreased 0.9% compared to 0.8% growth in Q4 15 as shown in the table below:

4th Quarter Comparable Brand Revenue Growth by Concept*
						Q4 16						Q4 15
Pottery Barn						(4.1%)						(2.0%)
Williams Sonoma						1.4%						0.9%
West Elm						6.5%						12.8%
Pottery Barn Kids						(4.9%)						0.1%
PBteen						(8.1%)						(12.2%)
Total						(0.9%)						0.8%
* See the Company’s 10-K and 10-Q filings for the definition of comparable brand revenue.

E-commerce net revenues in Q4 16 increased 2.2% to $809 million from $792 million in Q4 15. E-commerce net revenues generated 51.1% of total company net revenues in Q4 16 and 49.9% of total company net revenues in Q4 15.

Retail net revenues in Q4 16 decreased 2.7% to $773 million from $794 million in Q4 15.

Operating margin in Q4 16 was 13.6% compared to 14.0% in Q4 15:

					-			Gross margin was 39.3% in Q4 16 versus 38.3% in Q4 15.
					-			Selling, general and administrative (“SG&A”) expenses were $406 million, or 25.7% of net revenues in Q4 16, versus $385 million, or 24.3% of net revenues in Q4 15.

The effective income tax rate in Q4 16 was 33.0% versus 36.6% in Q4 15, reflecting a one-time favorable tax adjustment. Excluding this adjustment, the effective tax rate in Q4 16 was 36.5%. See Exhibit 1 for a reconciliation of GAAP to non-GAAP effective income tax rate.

EPS in Q4 16 was $1.63 versus $1.55 in Q4 15. Excluding the tax adjustment, non-GAAP EPS was $1.55 in Q4 16. See Exhibit 1.

FISCAL YEAR 2016 RESULTS

Net revenues increased 2.2% to $5.084 billion in FY 16 from $4.976 billion in FY 15.

Comparable brand revenue in FY 16 increased 0.7% on top of 3.7% in FY 15 as shown in the table below:

Fiscal Year Net Revenues and Comparable Brand Revenue Growth by Concept*
				Net Revenues (Millions)								Comparable BrandRevenue Growth
				FY 16			FY 15					FY 16			FY 15
Pottery Barn				$2,024			$2,074					(3.5%)			1.9%
Williams Sonoma				1,002			994					1.3%			1.1%
West Elm				972			821					12.8%			14.8%
Pottery Barn Kids				635			640					(1.4%)			2.2%
PBteen				238			254					(6.2%)			(2.7%)
Other				213			193					N/A			N/A
Total				$5,084			$4,976					0.7%			3.7%
* See the Company’s 10-K and 10-Q filings for the definition of comparable brand revenue.

E-commerce net revenues in FY 16 increased 4.4% to $2.634 billion from $2.523 billion in FY 15. E-commerce net revenues generated 51.8% of total company net revenues in FY 16 and 50.7% of total company net revenues in FY 15.

Retail net revenues in FY 16 decreased 0.1% to $2.450 billion from $2.454 billion in FY 15.

Operating margin in FY 16 was 9.3% compared to 9.8% in FY 15. Excluding severance-related reorganization charges, non-GAAP operating margin was 9.6% in FY 16:

					-			Gross margin was 37.0% in FY 16 versus 37.1% in FY 15.
					-			Selling, general and administrative (“SG&A”) expenses were $1.411 billion, or 27.7% of net revenues in FY 16, versus $1.356 billion, or 27.2% of net revenues in FY 15. Excluding severance-related reorganization charges of approximately $14 million, non-GAAP SG&A expenses were $1.396 billion, or 27.5% of net revenues, in FY 16. See Exhibit 1.

The effective income tax rate in FY 16 was 35.3% versus 36.5% in FY 15, reflecting a one-time favorable tax adjustment. Excluding this adjustment, the effective tax rate in FY 16 was 36.9%. See Exhibit 1.

EPS in FY 16 was $3.41 versus $3.37 in FY 15. Excluding severance-related reorganization charges and the tax adjustment, non-GAAP EPS was $3.43 in FY 16. See Exhibit 1.

Merchandise inventories at the end of FY 16 were $978 million, down 0.1% compared to FY 15.

STOCK REPURCHASE PROGRAM AND DIVIDEND INCREASE

During FY 16, we repurchased 2.9 million shares of common stock at an average cost of $52.68 per share and a total cost of approximately $151 million. As of January 29, 2017, there was approximately $411 million remaining under our current stock repurchase program. As announced in a separate release today, our Board of Directors authorized a $0.02, or 5%, increase in our quarterly cash dividend to $0.39 per share.

FISCAL YEAR 2017 FINANCIAL GUIDANCE

1st Quarter 2017 Financial Guidance
Total Net Revenues (millions)						$1,085 – $1,120
Comparable Brand Revenue Growth/(Decrease)						(1%) – 2%
Diluted EPS						$0.45 – $0.50
Fiscal Year 2017 Financial Guidance
Total Net Revenues (millions)						$5,165 – $5,265
Comparable Brand Revenue Growth						1% – 3%
Operating Margin						9.4% – 9.6%
Diluted EPS						$3.45 – $3.65
Income Tax Rate						36.5% – 37.5%
Capital Spending (millions)						$200 – $220
Depreciation and Amortization (millions)						$185 – $195

Store Opening and Closing Guidance by Retail Concept*
FY 2016 ACT														FY 2017 GUID
							Total							New							Close							End
Williams Sonoma							234							3							(6)							231
Pottery Barn							201							6							(3)							204
West Elm							98							10							(3)							105
Pottery Barn Kids							89							-							(4)							85
Rejuvenation							7							2							-							9
Total							629							21							(16)							634
* Included in the FY 16 store count are 19 stores in Australia and one store in the UK.

CONFERENCE CALL AND WEBCAST INFORMATION

Williams-Sonoma, Inc. will host a live conference call today, March 15, 2017, at 2:00 P.M. (PT). The call, hosted by Laura Alber, President and Chief Executive Officer, will be open to the general public via live webcast and can be accessed at http://ir.williams-sonomainc.com/events. A replay of the webcast will be available at http://ir.williams-sonomainc.com/events.

SEC REGULATION G — NON-GAAP INFORMATION

This press release includes non-GAAP SG&A, operating income, operating margin, income taxes, effective tax rate and diluted EPS. These non-GAAP financial measures exclude the impact of severance-related reorganization charges in Q1 16 and Q3 16 and a one-time favorable tax adjustment in Q4 16. We have reconciled these non-GAAP financial measures with the most directly comparable GAAP financial measures in the text of this release and in Exhibit 1. We believe that these non-GAAP financial measures provide meaningful supplemental information for investors regarding the performance of our business and facilitate a meaningful evaluation of our quarterly and FY 16 actual results on a comparable basis with prior periods. Our management uses these non-GAAP financial measures in order to have comparable financial results to analyze changes in our underlying business from quarter to quarter. These non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or are proven incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements include statements relating to: our ability to continue to improve performance and increase our competitive advantage; our focus on operational excellence; our ability to improve customers’ experience; our optimism about the future; our ability to drive long-term profitable growth; our future financial guidance, including Q1 17 and FY 2017 guidance; our stock repurchase program; and our proposed store openings and closures.

The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include: accounting adjustments as we close our books for Q4 16 and as audited year-end financial statements are prepared; continuing changes in general economic conditions, and the impact on consumer confidence and consumer spending; new interpretations of or changes to current accounting rules; our ability to anticipate consumer preferences and buying trends; dependence on timely introduction and customer acceptance of our merchandise; changes in consumer spending based on weather, political, competitive and other conditions beyond our control; delays in store openings; competition from companies with concepts or products similar to ours; timely and effective sourcing of merchandise from our foreign and domestic vendors and delivery of merchandise through our supply chain to our stores and customers; effective inventory management; our ability to manage customer returns; successful catalog management, including timing, sizing and merchandising; uncertainties in e-marketing, infrastructure and regulation; multi-channel and multi-brand complexities; our ability to introduce new brands and brand extensions; challenges associated with our increasing global presence; dependence on external funding sources for operating capital; disruptions in the financial markets; our ability to control employment, occupancy and other operating costs; our ability to improve our systems and processes; changes to our information technology infrastructure; general political, economic and market conditions and events, including war, conflict or acts of terrorism; and other risks and uncertainties described more fully in our public announcements, reports to stockholders and other documents filed with or furnished to the SEC, including our Annual Report on Form 10-K for the fiscal year ended January 31, 2016 and all subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.

ABOUT WILLIAMS-SONOMA, INC.

Williams-Sonoma, Inc. is a specialty retailer of high-quality products for the home. These products, representing eight distinct merchandise strategies – Williams Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, PBteen, Williams Sonoma Home, Rejuvenation, and Mark and Graham – are marketed through e-commerce websites, direct mail catalogs and retail stores. Williams-Sonoma, Inc. currently operates in the United States, Canada, Australia and the United Kingdom, offers international shipping to customers worldwide, and has unaffiliated franchisees that operate stores in the Middle East and the Philippines and stores and e-commerce websites in Mexico.

Williams-Sonoma, Inc.
Condensed Consolidated Statements of Earnings (unaudited)
Thirteen weeks ended January 29, 2017 and January 31, 2016
(Dollars and shares in thousands, except per share amounts)
						4th Quarter
						2016														2015
						$							% ofRevenues							$							% ofRevenues
E-commerce net revenues						$	808,942						51.1	%						$	791,903						49.9	%
Retail net revenues							772,639						48.9								794,401						50.1
Net revenues							1,581,581						100.0								1,586,304						100.0
Cost of goods sold							959,550						60.7								978,744						61.7
Gross profit							622,031						39.3								607,560						38.3
Selling, general and administrative expenses							406,212						25.7								384,880						24.3
Operating income							215,819						13.6								222,680						14.0
Interest (income) expense, net							101						-								2						-
Earnings before income taxes							215,718						13.6								222,678						14.0
Income taxes							71,091						4.5								81,550						5.1
Net earnings						$	144,627						9.1	%						$	141,128						8.9	%
Earnings per share (EPS):
Basic							$1.65														$1.57
Diluted							$1.63														$1.55
Shares used in calculation of EPS:
Basic							87,669														89,760
Diluted							88,633														90,988

Williams-Sonoma, Inc.
Condensed Consolidated Statements of Earnings (unaudited)
Fifty-two weeks ended January 29, 2017 and January 31, 2016
(Dollars and shares in thousands, except per share amounts)
						Fiscal Year
						2016														2015
						$							% ofRevenues							$							% ofRevenues
E-commerce net revenues						$	2,633,602						51.8	%						$	2,522,580						50.7	%
Retail net revenues							2,450,210						48.2								2,453,510						49.3
Net revenues							5,083,812						100.0								4,976,090						100.0
Cost of goods sold							3,200,502						63.0								3,131,876						62.9
Gross profit							1,883,310						37.0								1,844,214						37.1
Selling, general and administrative expenses							1,410,711						27.7								1,355,580						27.2
Operating income							472,599						9.3								488,634						9.8
Interest (income) expense, net							688						-								627						-
Earnings before income taxes							471,911						9.3								488,007						9.8
Income taxes							166,524						3.3								177,939						3.6
Net earnings						$	305,387						6.0	%						$	310,068						6.2	%
Earnings per share (EPS):
Basic							$3.45														$3.42
Diluted							$3.41														$3.37
Shares used in calculation of EPS:
Basic							88,594														90,787
Diluted							89,462														92,102

Williams-Sonoma, Inc.
Condensed Consolidated Balance Sheets (unaudited)
(Dollars and shares in thousands, except per share amounts)
						Jan. 29, 2017								Jan. 31, 2016
Assets
Current assets
Cash and cash equivalents						$	213,713							$	193,647
Accounts receivable, net							88,803								79,304
Merchandise inventories, net							977,505								978,138
Prepaid catalog expenses							23,625								28,919
Prepaid expenses							52,882								44,654
Other assets							10,652								11,438
Total current assets							1,367,180								1,336,100
Property and equipment, net							923,283								886,813
Deferred income taxes, net							135,238								141,784
Other assets, net							51,178								52,730
Total assets						$	2,476,879							$	2,417,427
Liabilities and stockholders' equity
Current liabilities
Accounts payable						$	453,710							$	447,412
Accrued salaries, benefits and other							130,187								127,122
Customer deposits							294,276								296,827
Income taxes payable							23,245								67,052
Other liabilities							59,838								58,014
Total current liabilities							961,256								996,427
Deferred rent and lease incentives							196,188								173,061
Other long-term obligations							71,215								49,713
Total liabilities							1,228,659								1,219,201
Stockholders’ equity
Preferred stock: $.01 par value; 7,500 shares authorized; none issued							-								-
Common stock: $.01 par value; 253,125 shares authorized; 87,325 and 89,563 shares issued and outstanding at January 29, 2017 and January 31, 2016, respectively							873								896
Additional paid-in capital							556,928								541,307
Retained earnings							701,702								668,545
Accumulated other comprehensive loss							(9,903	)							(10,616	)
Treasury stock, at cost							(1,380	)							(1,906	)
Total stockholders’ equity							1,248,220								1,198,226
Total liabilities and stockholders' equity						$	2,476,879							$	2,417,427

Williams-Sonoma, Inc.
Condensed Consolidated Statements of Cash Flows (unaudited)
Fifty-two weeks ended January 29, 2017 and January 31, 2016
(Dollars in thousands)
						Year-to-Date
						2016								2015
Cash flows from operating activities
Net earnings						$	305,387							$	310,068
Adjustments to reconcile net earnings to net cash
provided by (used in) operating activities:
Depreciation and amortization							173,195								167,760
Loss on disposal/impairment of assets							3,806								4,339
Amortization of deferred lease incentives							(25,212	)							(24,721	)
Deferred income taxes							7,114								(7,436	)
Tax benefit related to stock-based awards							3,230								14,592
Excess tax benefit related to stock-based awards							(4,894	)							(14,494	)
Stock-based compensation expense							51,116								41,357
Other							(423	)							149
Changes in:
Accounts receivable							(9,794	)							(12,849	)
Merchandise inventories							4,493								(92,647	)
Prepaid catalog expenses							5,294								5,022
Prepaid expenses and other assets							(6,367	)							(9,245	)
Accounts payable							3,169								60,507
Accrued salaries, benefits and other liabilities							25,876								(135	)
Customer deposits							(3,037	)							35,877
Deferred rent and lease incentives							35,559								31,334
Income taxes payable							(43,803	)							34,548
Net cash provided by operating activities							524,709								544,026
Cash flows from investing activities:
Purchases of property and equipment							(197,414	)							(202,935	)
Other							439								769
Net cash used in investing activities							(196,975	)							(202,166	)
Cash flows from financing activities:
Repurchase of common stock							(151,272	)							(224,995	)
Payment of dividends							(133,539	)							(127,636	)
Borrowings under revolving line of credit							125,000								200,000
Repayments of borrowings under revolving line of credit							(125,000	)							(200,000	)
Tax withholdings related to stock-based awards							(27,062	)							(31,790	)
Excess tax benefit related to stock-based awards							4,894								14,494
Proceeds related to stock-based awards							1,532								2,647
Repayment of long-term obligations							-								(1,968	)
Other							(359	)							(135	)
Net cash used in financing activities							(305,806	)							(369,383	)
Effect of exchange rates on cash and cash equivalents							(1,862	)							(1,757	)
Net increase (decrease) in cash and cash equivalents							20,066								(29,280	)
Cash and cash equivalents at beginning of period							193,647								222,927
Cash and cash equivalents at end of period						$	213,713							$	193,647

Exhibit 1
Reconciliation of 4th Quarter and Fiscal Year Actual GAAP to Non-GAAP Operating Margin By Segment*
($ in thousands)
			E-commerce										Retail										Unallocated										Total
			Q4 16					Q4 15					Q4 16					Q4 15					Q4 16					Q4 15					Q4 16					Q4 15
Net Revenues			$	808,942				$	791,903				$	772,639				$	794,401				$	-				$	-				$	1,581,581				$	1,586,304
Operating Income/(Expense)				191,845					174,218					121,507					121,446					(97,533	)				(72,984	)				215,819					222,680
Operating Margin				23.7	%				22.0	%				15.7	%				15.3	%				(6.2	%)				(4.6	%)				13.6	%				14.0	%
			E-commerce										Retail										Unallocated										Total
			FY 16					FY 15					FY 16					FY 15					FY 16					FY 15					FY 16					FY 15
Net Revenues			$	2,633,602				$	2,522,580				$	2,450,210				$	2,453,510				$	-				$	-				$	5,083,812				$	4,976,090
GAAP Operating Income/(Expense)				606,286					562,081					231,929					239,288					(365,616	)				(312,735	)				472,599					488,634
GAAP Operating Margin				23.0	%				22.3	%				9.5	%				9.8	%				(7.2	%)				(6.3	%)				9.3	%				9.8	%
Severance-related ReorganizationCharges(1)				-					-					-					-					14,406					-					14,406					-
Non-GAAP Operating Income/(Expense) Excluding Severance-related Reorganization Charges(3)			$	606,286				$	562,081				$	231,929				$	239,288				$	(351,210	)			$	(312,735	)			$	487,005				$	488,634
Non-GAAP Operating Margin(3)				23.0	%				22.3	%				9.5	%				9.8	%				(6.9	%)				(6.3	%)				9.6	%				9.8	%
* See the Company’s 10-K and 10-Q filings for additional information on segment reporting and the definition of Operating Income/(Expense) and Operating Margin.

Reconciliation of 4th Quarter and Fiscal Year Actual GAAP to Non-GAAP Effective Tax Rate
($ in thousands)
						Q4 16					Q4 15					FY 16					FY 15
Earnings Before Income Taxes						$	215,718				$	222,678				$	471,911				$		488,007
GAAP Income Taxes							71,091					81,550					166,524						177,939
GAAP Effective Tax Rate							33.0	%				36.6	%				35.3	%					36.5	%
One-time Favorable Tax Adjustment(2)							7,681					-					7,681						-
Non-GAAP Income Taxes Excluding Tax Adjustment(3)						$	78,772				$	81,550				$	174,205				$		177,939
Non-GAAP Effective Tax Rate(3)							36.5	%				36.6	%				36.9	%					36.5	%

Reconciliation of Quarterly and Fiscal Year GAAP to Non-GAAP
Diluted Earnings Per Share**
(Totals rounded to the nearest cent per diluted share)
					Q1 16ACT					Q2 16ACT					Q3 16ACT					Q4 16ACT					FY 16ACT
2016 GAAP Diluted EPS					$0.44					$0.58					$0.78					$1.63					$3.41
Impact of Severance-related Reorganization Charges(1)					$0.09					-					$0.01					-					$0.10
One-time Favorable Tax Adjustment(2)					-					-					-					($0.08)					($0.08)
2016 Non-GAAP Diluted EPS Excluding Severance-related Reorganization Charges and TaxAdjustment(3)					$0.53					$0.58					$0.79					$1.55					$3.43
					Q1 15ACT					Q2 15ACT					Q3 15ACT					Q4 15ACT					FY 15ACT
2015 GAAP Diluted EPS					$0.48					$0.58					$0.77					$1.55					$3.37

** Due to the differences between the quarterly and year-to-date weighted average share count calculations and rounding to the nearest cent per diluted share, totals may not equal the sum of the line items and fiscal year diluted EPS may not equal the sum of the quarters.

Notes:
(1)		Impact of Severance-related Reorganization Charges – During Q1 16 and Q3 16, we incurred severance-related reorganization charges due to headcount reduction primarily in our corporate functions totaling approximately $14 million, or $0.10 per diluted share. These charges were recorded as SG&A expense within the unallocated segment.
(2)		Impact of One-time Favorable Tax Adjustment – During Q4 16 we incurred a benefit of approximately $8M, or $0.08 per diluted share, related to tax adjustments associated with intercompany transactions.
(3)		SEC Regulation G – Non-GAAP Information – These tables include non-GAAP operating income, operating margin, income taxes, effective tax rate and diluted EPS. We believe that these non-GAAP financial measures provide meaningful supplemental information for investors regarding the performance of our business and facilitate a meaningful evaluation of our quarterly and FY 16 actual results on a comparable basis with prior periods. Our management uses these non-GAAP financial measures in order to have comparable financial results to analyze changes in our underlying business from quarter to quarter. These non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.

Store Statistics
Store Count																							Avg. Leased Square FootagePer Store
					Oct. 30, 2016			Openings				Closings				Jan. 29, 2017			Jan. 31, 2016				Jan. 29, 2017					Jan. 31, 2016
Williams Sonoma					241			2				(9)				234			239				6,600					6,600
Pottery Barn					202			1				(2)				201			197				13,900					13,800
Pottery Barn Kids					89			1				(1)				89			89				7,400					7,500
West Elm					97			1				-				98			87				13,300					13,200
Rejuvenation					6			1				-				7			6				9,100					9,000
Total					635			6				(12)				629			618				10,100					10,000

									Oct. 30, 2016									Jan. 29, 2017									Jan. 31, 2016
Total store selling square footage									3,966,000									3,951,000									3,827,000
Total store leased square footage									6,381,000									6,359,000									6,163,000

View source version on businesswire.com: http://www.businesswire.com/news/home/20170315006414/en/

WILLIAMS-SONOMA, INC.

Julie P. Whalen

EVP, Chief Financial Officer

(415) 616-8524

-or-

Beth Potillo-Miller

SVP, Finance & Corporate Treasurer

Investor Relations

(415) 616-8643

Source: Williams-Sonoma, Inc.

Press Releases

Williams-Sonoma (WSM) Tops Q4 EPS by 4c; Guides In-LineMarch 15, 2017 4:17 PM