Williams-Sonoma Q4 Comp Store Sales Rebound
Williams-Sonoma closed out its fiscal year 2024 with a strong fourth quarter driven by strong seasonal sales and improvement in store-based and online furniture sales.
Net revenue for the quarter ended February 2 was $2.5 billion, up from net revenue of $2.3 billion in the comparable quarter the previous year. Quarterly net earnings were $410.7 million, or $3.23 per diluted share, up from net earnings of $354.4 million, or $2.72 per diluted share in the prior year’s fourth quarter. Comparable store sales were up 3.1%.
“We are proud of our strong finish to 2024,” said Laura Alber, president and CEO of Williams-Sonoma, Inc. “This success was fueled by the strength of our operating model, our standout seasonal offerings, our impactful collaborations, and a strong improvement in both retail and online furniture sales.”
By division, fourth quarter comparable sales at Pottery Barn were down 0.5%, up 4.2% at West Elm, up 5.7% at Williams Sonoma stores, and up 3.5% at Pottery Barn Kids and Teen stores.
For the full year, net revenue was $7.71 billion, down slightly from net revenue of $7.75 billion in the prior fiscal year. Net earnings were $1.1 billion, or $8.79 per diluted share, compared to net earnings of $949.7 million, or $7.28 per diluted share, in the prior fiscal year.
For fiscal year 2025, Williams-Sonoma is forecasting annual net revenues in the range of -1.5% to +1.5% due to the impact from the 53rd week in fiscal 2024, with comps in the range of flat to +3%; and an operating margin between 17.4% to 17.8%.
