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3250 Van Ness Avenue
San Francisco, CA 94109
|Julie P. Whalen|
|EVP, Chief Financial Officer|
|Gabrielle L. Rabinovitch|
|Vice President, Investor Relations|
Williams-Sonoma, Inc. announces fourth quarter and fiscal year 2015 results
FY 15 net revenues grow 5.9% with diluted EPS of $3.37
Authorizes $500 million stock repurchase program and 6% dividend increase
Reiterates long-term outlook and provides financial guidance for fiscal year 2016
San Francisco, CA, March 16, 2016 Williams-Sonoma, Inc. (NYSE: WSM) today announced operating results for the fourth fiscal quarter of 2015 (Q4 15) and fiscal year 2015 (FY 15) ended January 31, 2016 versus the fourth fiscal quarter of 2014 (Q4 14) and fiscal year 2014 (FY 14) ended February 1, 2015.
4th QUARTER 2015 RESULTS
Q4 15 net revenues grew 2.9% to $1.586 billion versus $1.542 billion in Q4 14 with comparable brand revenue growth of 0.8%.
Q4 15 operating margin was 14.0% versus 15.4% in Q4 14. Excluding unusual business events, Q4 14 non-GAAP operating margin was 14.9%. See Exhibit 1 for a reconciliation of GAAP to non-GAAP operating margin.
Q4 15 diluted earnings per share (EPS) was $1.55 versus $1.57 in Q4 14. Excluding unusual business events, non-GAAP EPS was $1.52 in Q4 14. See Exhibit 1 for a reconciliation of GAAP to non-GAAP EPS.
Cash returned to stockholders totaled $60 million, comprising $28 million in stock repurchases and $32 million in dividends.
FISCAL YEAR 2015 RESULTS
FY 15 net revenues grew 5.9% to $4.976 billion versus $4.699 billion in FY 14 with comparable brand revenue growth of 3.7%.
FY 15 operating margin was 9.8% versus 10.7% in FY 14. Excluding unusual business events, FY 14 non-GAAP operating margin was 10.5%. See Exhibit 1.
FY 15 EPS was $3.37 versus $3.24 in FY 14. Excluding unusual business events, FY 14 non-GAAP EPS was $3.20. See Exhibit 1.
Cash returned to stockholders in FY 15 totaled $353 million, comprising $225 million in stock repurchases and $128 million in dividends.
Laura Alber, President and Chief Executive Officer, commented, In 2015, we delivered top and bottom line performance within our guidance ranges despite a challenging end to the year. We are reporting record revenue and earnings per share for the year as a result of the strength of our portfolio of outstanding brands, our balanced, multi-channel model, and solid execution. Disciplined management allowed us to meet our commitment as we adjusted to an evolving consumer and competitive landscape. Our brands are highly aspirational and relatable at the same time, and create a platform for growth.
The following information was filed by Williams Sonoma Inc (WSM) on Wednesday, March 16, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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