Overview
- The board lifted the quarterly payout to $0.76 per share, payable May 22, extending the company’s long streak of annual dividend increases.
- Q4 net revenue came in at $2.36 billion with EPS of $3.04, topping FactSet estimates, as gross margin reached 46.9% and comparable brand revenue rose 3.2%.
- For fiscal 2026, management projected comparable brand revenue growth of roughly 2% to 6% and an operating margin of 17.5% to 18.1%, assuming current tariff rates persist.
- Williams‑Sonoma ended FY2025 with over $1 billion in cash and no long‑term debt, generated about $1.3 billion in operating cash flow, and returned nearly $1.2 billion via $854 million in buybacks and $316 million in dividends.
- Tariffs remain the key near‑term risk, including about $80 million of incremental costs in first‑half FY2026 inventory; RBC raised its target to $214 and kept Outperform, TD Cowen maintained Buy at $225, and the stock saw volatile post‑earnings trading highlighted by Cramer’s interest in the pullback.