Is Williams-Sonoma Inc. A Perfect Sell?
Williams-Sonoma: Unappreciated Housing Recovery Play
Alan Brochstein, CFA
Alan Brochstein, CFA
Jun. 5, 2014, 7:40 PM
- Dozens of companies, including IBM and H-P (HPQ), found an unwelcome surprise in their supply chains in their search for "conflict minerals," part of the Dodd-Frank Act designed ferret out any connection to mines controlled by armed groups in the Congo: Many of their products contain North Korean gold.
- IBM, for example, disclosed that the North Korean gold was used to make its memory storage systems.
- North Korea’s central bank provides currency for the country and refines gold, but U.S. sanctions law bars importing materials from the country, even if it comes from deep within a supply chain.
- "There is still a long way to go in understanding supply chains," says an attorney who deals with conflict mineral disclosures.
- Other companies making the discovery included Ralph Lauren (RL), Rockwell Automation (ROK) and Williams-Sonoma (WSM).
Jun. 2, 2014, 9:59 AM
May 28, 2014, 8:18 AM
May 22, 2014, 9:15 AM
May 21, 2014, 5:48 PM
- Williams-Sonoma (WSM) expects FQ2 revenue of $1.02B-$1.04B and EPS of $0.49-$0.52, below a consensus of $1.05B and $0.55. FY15 (ends Jan. '15) guidance is a little healthier: Revenue of $4.645B-$4.725B and EPS of $3.07-$3.17 vs. a consensus of $4.69B and $3.17.
- Comparable brand revenue grew 10% Y/Y in FQ1 vs. 10.4% in FQ4. It's expected to fall to a range of 4%-6% in FQ2, and total 5%-7% in FY15.
- Comp. brand growth by segment: Pottery Barn +9.7%, Williams-Sonoma +6%, Pottery Barn Kids +8.1%, West Elm +18.8%, PBteen +12%.
- Direct-to-consumer revenue +17.2%, to $491M, retail +3.1% to $483M.
- Gross margin +20 bps Y/Y to 37.8%, op. margin +40 bps to 7.6%. $53M was spent on buybacks.
- Shares are close to an all-time high of $68.05.
- FQ1 results, PR
May 21, 2014, 5:42 PM
May 21, 2014, 4:17 PM
- Williams-Sonoma (WSM): Q1 EPS of $0.48 beats by $0.04.
- Revenue of $974.33M (+9.7% Y/Y) beats by $32.45M.
- Shares +3.04% AH.
May 20, 2014, 5:35 PM
Apr. 11, 2014, 9:44 AM
- BB&T speculates that Williams-Sonoma (WSM -0.5%) could acquire Restoration Hardware (RH +0.5%) at $90 per share.
- A deal price at that level would represent a 36% premium off of Restoration Hardware's current share price.
- It's unclear if BB&T has an inside line on any deal talks or is passing on some water cooler chatter.
Mar. 13, 2014, 9:17 AM
Mar. 12, 2014, 5:40 PM
Mar. 12, 2014, 4:47 PM
- Williams-Sonoma (WSM) +6.5% AH after posting better than expected Q4 earnings and revenues, and raising its quarterly dividend by 6%.
- Comparable brand revenue growth in Q4 rose 10.4% Y/Y after gaining 4% in the year-ago quarter; gross margin was 40.6% vs. 41.3% in Q4 a year ago.
- At West Elm, comparable-brand sales jumped 18.3%, Pottery Barn same-store sales rose 14.6%, Pottery Barn Kids gained 11.2%, while PBteen climbed 9.6%; at WSM's namesake stores, comparable-brand sales added 2.3%.
- Issues downside guidance for Q1, seeing EPS of $0.41-$0.44 vs. $0.46 analyst consensus estimate, on revenues of $920M-$940M vs. $943M consensus; Q4 comparable brand revenue growth is expected at 4%-6%.
- Sees FY 2015 EPS of $3.05-$3.15 vs. $3.21 analyst consensus estimate on revenues of $4.63B-$4.71B vs. $4.64B consensus; comps growth of 5%-7% expected.
Mar. 12, 2014, 4:31 PM
- Williams-Sonoma Inc. (WSM) declares $0.33/share quarterly dividend, 6.5% increase from prior dividend of $0.31.
- Forward yield 2.11%
- Payable May 28; for shareholders of record April 25; ex-div April 23.
Mar. 12, 2014, 4:13 PM
- Williams-Sonoma (WSM): Q4 EPS of $1.38 beats by $0.03.
- Revenue of $1.46B (+3.5% Y/Y) beats by $30M.
Mar. 12, 2014, 12:10 AM
Mar. 11, 2014, 5:35 PM
Williams-Sonoma, Inc. operates as a multi-channel specialty retailer. The company operates its business through two segments: E-commerce and Retail. The e-commerce segment has the following merchandising strategies: Williams-Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, PBteen,... More
Industry: Home Furnishing Stores
Country: United States
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