Williams-Sonoma (WSM) Q4 2024 Earnings
Q4 had no one-time items; however, the GAAP and non-GAAP Q4 diluted EPS are identical at $3.28 as there were no adjustments in Q4 FY2024. The 14th week in Q4 contributed an estimated 510bps to revenue growth and 60bps to operating margin.
How Did WSM Stock React to Q4 2024 Earnings?
S&P 500 over the same 30 days: −9.39%.
Did WSM Beat Earnings? Q4 2024 Results
Yes. Williams-Sonoma reported Q4 2024 earnings of $3.28 a share on Mar 19, 2025, beating the $2.94 consensus estimate by 11.5%. Revenue was $2.5B against a $2.4B estimate.
Williams-Sonoma closed out fiscal 2024 with a notably strong fourth quarter, as GAAP diluted EPS of $3.28 beat the $2.94 consensus estimate by 11.48% and revenue of $2.46 billion topped expectations by 4.59%, rising 8.0% year over year. The headline driver was a record Q4 operating margin of 21.5%, up 140 basis points from the prior year, fueled by occupancy leverage, higher merchandise margins, and supply chain efficiencies; notably, the quarter included a 14th week that management estimates contributed roughly 510 basis points to revenue growth and 60 basis points to operating margin. West Elm posted a 4.2% comparable gain and the Williams-Sonoma brand grew comps 5.7%, partially offsetting a modest 0.5% decline at Pottery Barn. Looking ahead, management guided fiscal 2025 net revenues in the range of -1.5% to +1.5% against the prior 53-week year, with comparable brand revenue expected flat to +3.0% and operating margin between 17.4% and 17.8%; the company also framed tariff pressures as a potential competitive advantage, citing its supply chain flexibility and ongoing sourcing diversification away from China.
- Comparable brand revenue growth of +3.1% in Q4, above expectations
- Occupancy leverage of +80bps driving gross margin expansion
- Higher merchandise margins of +40bps in Q4
- Supply chain efficiencies of +10bps in Q4
- Strong improvement in both retail and online furniture sales
- Standout seasonal offerings and impactful collaborations
- Extra (14th) week contributed estimated +510bps to revenue growth and +60bps to operating margin
- SG&A rate improvement of 10bps despite higher incentive compensation and advertising
“We are proud of our strong finish to 2024. In Q4, our comp came in above expectations at positive 3.1%. We exceeded profitability estimates with an operating margin of 21.5% and earnings per share of $3.28. 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. On the full year, our comp ran down 1.6%. We delivered a record annual operating margin of 17.9% with full-year earnings per share of $8.50.”
Williams-Sonoma CEO, on the earnings call
What Was Williams-Sonoma's Outlook in Q4 2024?
For fiscal 2025 (52 weeks), Williams-Sonoma expects annual net revenues in the range of -1.5% to +1.5% versus fiscal 2024 (reflecting the 53rd-week headwind), with comparable brand revenue growth of flat to +3.0% on a 52-week versus 52-week basis. Operating margin is expected between 17.4% and 17.8%, inclusive of the 20bps impact from the 53rd week in fiscal 2024. Over the long term, the company continues to expect mid-to-high single-digit annual net revenue growth with an operating margin in the mid-to-high teens.
WSM YoY Financials
| Metric | Q4 2024 | Q4 2023 | Year over year |
|---|---|---|---|
| Revenue | $2.5B | $2.3B | +8.0% |
| Gross Profit | $1.2B | $1.0B | +11.2% |
| Operating Income | $530.1M | $458.1M | +15.7% |
| Net Income | $410.7M | $354.4M | +15.9% |
WSM Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.