Williams-Sonoma (NYSE: WSM) reported Q2 EPS of $3.12, $0.40 better than the analyst estimate of $2.72. Revenue for the quarter came in at $1.86 billion versus the consensus estimate of $1.96 billion.

OUTLOOK:

We are revising our fiscal 2023 guidance to reflect lower net revenue trends and higher operating margin expectations. The net effect of these changes holds earnings materially in line with our prior implied EPS guidance.

In fiscal 2023, we now expect net revenue growth in the range of -5% to -10% with an operating margin between 15% to 16%.

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

For earnings history and earnings-related data on Williams-Sonoma (WSM) click here.