- Williams-Sonoma (NYSE:WSM) is off 9% in postmarket trading after Q3 results came in mostly in line and the company raised full-year revenue guidance.
- EPS grew 8% to $0.84, with a $0.02/share negative impact from lost sales due to hurricanes.
- Net revenues were up 4.3%, with comparable brand revenue growth of 3.3%. Comparable brand revenue growth by concept: Pottery Barn, -0.3%; Williams-Sonoma, 2.3%; West Elm, 11.5%; Pottery Barn Kids, 0.1%; PBteen, 3%.
- Operating margin was 8.5% vs. a year-ago 8.8%.
- Store count overall was up 1 Y/Y to 636: Williams-Sonoma landed at 233 stores vs. year-ago 241; Pottery Barn 202 (same as prior year); West Elm 105 (vs. year-ago 97); Pottery Barn Kids 88 (vs. year-ago 89); Rejuvenation 8 (vs. year-ago 6).
- Revenue breakout: E-commerce, $690M (now 53.1% of total); retail, $609.3M (46.9% of total).
- For Q4, it sees net revenues coming in at $1.61B-$1.675B (vs. consensus for $1.63B) and EPS of $1.49-$1.64 (vs. $1.63 expected). For the full year, it's guiding to net revenues of $5.225B-$5.29B (vs. consensus for $5.24B) and EPS of $3.45-$3.60 (vs. $3.60 expected), along with a tax rate of 35-36% and capital spending of $200M-$220M.
- Conference call to come at 5 p.m. ET.
- Press release
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