SAN FRANCISCO — Bolstered by its Pottery Barn property, High 100 retailer Williams-Sonoma Inc. completed a report fiscal 12 months.
The San Francisco-based retailer launched its fourth quarter and full year results on March 16, and whereas the quarter fell off of final 12 months’s tempo, Williams-Sonoma set a brand new benchmark over the course of your complete 12 months.
“At Williams-Sonoma Inc., we’re proud that, regardless of the declining macro surroundings, we delivered one other report 12 months of income, with a comp of 6.5% on the topline, and report earnings of $16.32 per share,” mentioned Laura Alber, president and CEO. “With our relentless concentrate on customer support and worthwhile development, we proceed to outperform our friends, achieve market share and distinguish ourselves because the world’s largest digital-first, design-led, sustainable house retailer.”
For the quarter ended Jan. 29, Williams-Sonoma posted internet revenues of $2.45 billion, down 1.9% from $2.50 billion within the fourth quarter of 2021. Internet earnings had been $354.99 million, or $5.28 per diluted share, down 11.9% in contrast with $402.94 million, or $5.41 the prior 12 months.
By section within the quarter, Pottery Barn delivered $967 in internet income, up 5.8% vs. This autumn 2021. West Elm accounted for $534 million, down 10.7% in contrast with $598 million.
For the complete 12 months, Williams-Sonoma’s internet revenues totaled $8.67 billion, up 5.2% from 2021’s $8.25 billion. Internet earnings for the 12 months had been $1.13 billion, or $16.32 per diluted share, up 0.13% from 2021’s $1.13 billion, or $14.75 per share.
Pottery Barn once more led the way in which, with $3.556 billion in internet revenues for the 12 months, up 14.9% from FY2021’s $3.121 billion. West Elm accounted for $2.278 billion, a 2.5% soar from the earlier 12 months’s $2.235 billion.
In fiscal 2023, the corporate expects annual internet income development within the vary of -3% to +3% with an working margin between 14% to fifteen%. Within the long-term, Williams-Sonoma expects mid-to-high single-digit annual internet income development with working margin above 15%.
“As we glance to the long-term, we’re assured in our continued potential to take market share and to take action, profitably,” Alber mentioned. “With our tradition of innovation and expertise, our values and the power of our workforce, we’re shifting forward with our imaginative and prescient of furnishing our prospects in every single place. As we do, we’re assured that we’ll proceed to ship for all our prospects, staff and shareholders.”
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