Williams-Sonoma (WSM) Tops Q4 EPS by 30c
Williams-Sonoma (NYSE: WSM) reported Q4 EPS of $5.44, $0.30 better than the analyst estimate of $5.14. Revenue for the quarter came in at $2.28 billion versus the consensus estimate of $2.22 billion.
OUTLOOK:
In fiscal 2024, we expect annual net revenue growth in the range of -3% to +3% with comps in the range of -4.5% to +1.5%; and an operating margin between 16.5% to 16.8%.
Fiscal 2024 is a 53-week year. Our financial statements will be prepared on a 53-week basis in fiscal 2024 and a 52-week basis in fiscal 2023. However, we will report comps on a 53-week versus 53-week comparable basis. All other year-over-year comparisons will be 53-weeks in fiscal 2024 versus 52-weeks in fiscal 2023. We expect the additional week in fiscal 2024 to contribute 150bps to revenue growth and 10bps to operating margin, both of which are reflected in our guidance.
Over the long-term, we continue to expect mid-to-high single-digit annual net revenue growth with an operating margin in the mid-to-high teens.
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