Williams-Sonoma beats Q3 estimates; EPS $1.96 (+7.1% YoY); raises FY2024 guidance

WILLIAMS SONOMA INC

2024-Q3 EPS reported $5.74 revenue$5,249,323,000

Q3 comparable brand revenue -2.9%; operating margin 17.8%; diluted EPS $1.96 (+7.1% YoY).
Gross margin expanded 230bps to 46.7% on higher merchandise margins and supply chain efficiencies.
Board approved new $1B stock repurchase authorization; total authorization now $1.3B including remaining $293M.
Raised FY2024 guidance: revenue decline -3% to -1.5%; operating margin 17.8%-18.2% (excl. $49M freight adj).
Strong cash position $827M; returned $606M to shareholders via $533M buybacks and $73M dividends in Q3.

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