=Williams-Sonoma (WSM) reported earnings Wed 25 May 2016 (a/h)

Williams-Sonoma beats by $0.03, beats on revs; guides JulQ EPS and revs in-line although mid-points of guidance below consensus; reaffirms FY17 EPS guidance, revs guidance; comps +4.5% :

• Reports Q1 (Apr) earnings of $0.53 per share, excluding non-recurring items, $0.03 better thanthe Capital IQ Consensus of $0.50 and above prior guidance of $0.48-0.52; revenues rose 6.5% year/year to $1.10 bln vs the $1.08 bln Capital IQ Consensus and above prior guidance of $1.07-1.09 bln.
• Co issues guidance for Q2 (Jul), sees EPS of $0.54-0.60 vs. $0.60 Capital IQ Consensus Estimate; sees Q2 revs of $1.145-1.175 bln vs. $1.17 bln Capital IQ Consensus Estimate. Co guides to Q2 same store comps of +1-4%.
• Co reaffirms guidance for FY17, sees EPS of $3.50-3.65, excluding non-recurring items, vs. $3.56 Capital IQ Consensus Estimate; sees FY17 revs of $5.15-5.25 bln vs. $5.21 bln Capital IQ Consensus Estimate. Co reaffirms full year same store comps +3-6%.
• Same store comps in Q1 rose +4.5% vs prior guidance of +3-6%.
• "In the first quarter we saw accelerated growth in West Elm and Williams-Sonoma, as well as improvement across the Pottery Barn brands. We also saw positive results from our inventory and supply chain initiatives. We believe our strong brands and profitable multi-channel strategy create a sustainable competitive advantage."