Williams-Sonoma, Inc. (WSM) Earnings Call Transcripts

Williams-Sonoma, Inc.'s Latest Earnings Call - Q1 FY2027

In the first quarter of fiscal 2026, Williams-Sonoma, Inc. reported net revenues of $1.81 billion, reflecting a 4.8% year-over-year increase in comparable sales. Earnings per share rose to $1.93, surpassing last year's $1.85. Management reiterated their annual guidance for fiscal 2026, projecting comparable brand revenue growth of 2% to 6% and operating margins between 17.5% and 18.1%, citing external uncertainties as a reason for not raising guidance despite strong Q1 performance.

Reported metrics

Guidance from management

Management reiterated their fiscal 2026 guidance, expecting comparable brand revenue growth of 2% to 6% and operating margins in the range of 17.5% to 18.1%. They noted the external environment's uncertainty as a reason for not raising guidance.

What management said

I think it's too early to comment on that and remember, we don't just compete on price. We're competing on the whole, which is the product itself and [ with similar ] market versus other similar products. And we have incredible finishes and product design, exclusives, exciting stuff in the works. And that's where we see the customer being less price sensitive. That said, we're careful to make sure that they feel real...

And I'll just add, Kate, that as I said in our opening remarks, oil prices at today's levels are embedded in our guidance. We are seeing ocean freight prices pressured. But given our size and scale, we're able to mitigate them. And then with domestic transportation, we are seeing higher costs, but our supply chain efficiencies are really offsetting them. And I want to take a moment just to acknowledge and recognize a...

What analysts pressed on

Analysts expressed concerns about the sustainability of consumer demand and the impact of inflation on pricing strategies. There were questions regarding the potential need to increase prices in response to ongoing inflationary pressures.

Main topics on the call

• Strong Comparable Sales Growth — Williams-Sonoma achieved a 4.8% increase in comparable sales, with all brands contributing positively. CEO Laura Alber stated, "We are pleased that our growth initiatives are working, and every brand delivered a positive...
• Operating Margin Exceeds Expectations — The company reported an operating margin of 16.2%, ahead of expectations, despite absorbing higher tariffs and fuel costs. Management noted, "We delivered this operating margin even while absorbing tariffs and higher fue...
• Reiteration of Annual Guidance — Management reiterated the fiscal 2026 guidance, projecting revenue growth of 2% to 6% and operating margins of 17.5% to 18.1%. They emphasized the uncertainty in the external environment as a reason for maintaining guida...
• B2B Division Growth — The B2B division reported a record-breaking growth of 13.7%, with significant contributions from trade and contract segments. Jeff Howie stated, "We continue to have an incredibly robust pipeline and are making really bi...

Read the full Williams-Sonoma, Inc. transcript (Q1 FY2027) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 25 Williams-Sonoma, Inc. earnings call transcripts on record, spanning March 18, 2020 to May 21, 2026. Based on this history, Williams-Sonoma, Inc. reports quarterly. The most recent call on file is dated May 21, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

WSM

Exchange

NYSE

Country

US

Sector

Consumer Discretionary

Industry

Specialty Retail

Calls on record

25

First call

March 18, 2020

Most recent

May 21, 2026

Reporting cadence

quarterly