-==Williams-Sonoma (WSM) reported earnings on Thur 19 Nov 2020 (a/h)

 

Williams-Sonoma beats by $1.05, beats on revs

Reports Q3 (Oct) earnings of $2.56 per share, excluding non-recurring items, $1.05 better than the S&P Capital IQ Consensus of $1.51; revenues rose 22.3% year/year to $1.76 bln vs the $1.59 bln S&P Capital IQ Consensus.

• Demand comparable brand revenue growth accelerated to 31%, which includes orders placed but not yet filled or charged to the customer in the quarter.
• Net comparable brand revenue growth of 24.4%, with sequential and year-over-year acceleration in all brands, including Williams Sonoma at a record 30.4%, Pottery Barn at 24.1%, Pottery Barn Kids and Teen at 23.8% and West Elm at 21.8%.
• E-commerce net comparable brand revenue growth accelerated to 49.3% with e-commerce penetration holding at almost 70% of total net revenues.

Long-Term Financial Guidance: Total net revenues growth of mid to high single digits, Non-GAAP operating margin expansion, Above-industry average ROIC.