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Williams-Sonoma (WSM) Misses Q4 EPS by 3c; Offers Q1, FY16 Outlook

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March 16, 2016 4:19 PM EDT

Williams-Sonoma (NYSE: WSM) reported Q4 EPS of $1.55, $0.03 worse than the analyst estimate of $1.58. Revenue for the quarter came in at $1.59 billion versus the consensus estimate of $1.62 billion.

Comparable brand revenue growth of 0.8%.

As announced in a separate release today, our Board of Directors authorized a new $500 million stock repurchase program that the company intends to execute over the next three years and a 6% increase in our quarterly cash dividend to $0.37 per share. The stock repurchase program does not have an expiration date and may be limited or terminated at any time without prior notice.

FISCAL YEAR 2016 FINANCIAL GUIDANCE

1st Quarter 2016 Guidance Financial Highlights

Total Net Revenues (millions)

$1,070 – $1,090

Comparable Brand Revenue Growth

3% – 6%

Non-GAAP Diluted EPS*

$0.48 – $0.52

Fiscal Year 2016 Guidance Financial Highlights

Total Net Revenues (millions) $5,150 – $5,250
Comparable Brand Revenue Growth 3% – 6%
Non-GAAP Operating Margin* 9.8% – 10.0%
Non-GAAP Diluted EPS* $3.50 – $3.65
Income Tax Rate 37.0% – 38.0%
Capital Spending (millions) $200 – $220
Depreciation and Amortization (millions) $170 – $180
* Excludes expected one-time reorganization charge of approximately $10-$12 million during the first quarter of FY 2016.

*** The Street sees Q1 EPS of $0.55 and revenue of $1.1 billion and also expects FY16 EPS of $3.75 and revenue of $5.29 billion.

For earnings history and earnings-related data on Williams-Sonoma (WSM) click here.


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