Williams-Sonoma Posts 26 Pct Comp Growth

Williams-Sonoma, Inc., whose stable of brands includes names such as West Elm, Pottery Barn and Williams Sonoma, reported that Q4 comparable brand revenue growth accelerated to almost 26 percent, including online shopping comp growth of nearly 50 percent.

“In Q4, despite shipping constraints and low retail traffic, we delivered another quarter of accelerating revenue and profitability with 26 percent comp growth and over 85 percent EPS growth,” President and Chief Executive Officer Laura Alber said in an earnings announcement.

For the fourth quarter, Williams Sonoma, Inc. also posted demand comparable brand revenue growth of almost 30 percent, which includes orders made but not fulfilled or charged to the client in the quarter. It also reported a 42.1 percent gross margin.

As for its overall results, Williams-Sonoma, Inc. posted non-GAAP diluted earnings per share (EPS) of $3.95 on approximately $2.3 billion in net revenues. The results beat Wall Street’s expectations of $3.39 in EPS on $2.18 billion in revenues.

The company also said it was “planning for fiscal year 2021 financial performance to be in line with our long-term financial guidance of mid-to-high single digit net revenue growth and year-over-year non-GAAP operating margin expansion.”

Williams-Sonoma, Inc., which says it it’s the “largest digital-first, design-led and sustainable home retailer” globally, runs in the U.S., Puerto Rico, Canada, the United Kingdom and Australia, while it provides shipping to clients globally.

It also has unaffiliated franchisees that run stores in India, South Korea, Mexico, the Philippines and the Middle East in addition to eCommerce sites in some locations.

Williams-Sonoma, Inc. also says it is “Good By Design — we’ve deeply engrained sustainability into our business.”

To that end, Pottery Barn debuted Pottery Barn Renewed in September with the assistance of The Renewal Workshop.

The brand said the collection of products displays its first move in the direction of transforming into a “circular business” and maintaining its “leadership in sustainability and innovation.”