Williams-Sonoma (NYSE: WSM) reported Q1 EPS of $2.64, $0.26 better than the analyst estimate of $2.38. Revenue for the quarter came in at $1.76 billion versus the consensus estimate of $1.8 billion.

OUTLOOK:

We are reiterating our fiscal 2023 and long-term guidance.

In fiscal 2023, we expect net revenue growth in the range of -3% to +3% with an operating margin between 14% to 15%.

In the long-term, we expect mid-to-high single-digit annual net revenue growth with operating margin above 15%.

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