Williams Sonoma Stock Price, News & Analysis

Williams-Sonoma, Inc. (NYSE: WSM) has announced an increase in its hourly minimum wage to $15 per hour, effective immediately. This decision aims to reinforce the company's commitment to offering competitive pay and acknowledging the essential role of its associates across supply chain, stores, and customer care centers. CEO Laura Alber emphasized the company's core value of prioritizing its people and rewarding their contributions. The increase reflects ongoing efforts to invest in the workforce that supports the firm’s success.

West Elm, part of Williams-Sonoma (NYSE: WSM), has launched an exclusive collection inspired by the Netflix series Ada Twist, Scientist. Featuring 11 gender-neutral pieces, the West Elm Kids collection invites creativity and self-expression among children aged 2-6. Key products include a $39 pillow, a $99 lap desk, and a $129 lamp. This collaboration marks the first partnership between West Elm and Netflix, focusing on sustainable and ethical manufacturing. The collection is available for pre-order at WestElm.com/AdaTwist.

Williams-Sonoma, Inc. (NYSE: WSM) has launched The Key Rewards Credit Card Program with Capital One, enhancing customer loyalty across its brands like Williams Sonoma, Pottery Barn, and West Elm. This new program allows cardmembers to earn 10% rewards on purchases in the first month and 5% thereafter, with additional rewards on groceries (4%) and other purchases (1%). Cardmembers also receive benefits like free shipping, a $25 birthday reward, and no annual fee. The cards are made from 85.5% recycled materials, reflecting a commitment to sustainability.

Williams-Sonoma announced a 20.3% increase in its quarterly cash dividend to $0.71 per share, payable on November 26, 2021. The Board also approved a new $1.25 billion stock repurchase authorization, replacing the $560 million still available from the previous program. CEO Laura Alber highlighted this as a demonstration of the company's strong financial position and commitment to enhancing shareholder returns. The repurchase program offers flexibility in timing and number of shares acquired, depending on market conditions.

Williams-Sonoma reported a remarkable 30.7% revenue growth for Q2 2021, with a 29.8% increase in comparable brand revenue. The company achieved a GAAP diluted EPS of $3.21, up 80% year-over-year. Operating margins expanded to 16.6% (GAAP) and 16.7% (non-GAAP). A quarterly dividend of $0.71 per share has been announced, alongside a new $1.25 billion stock repurchase program. The company's outlook has been raised, projecting revenue growth in the high teens to low twenties for FY2021, aiming for $10 billion in revenue by 2024.

Williams-Sonoma, Inc. (NYSE: WSM) will release its second quarter 2021 results on August 25th, 2021, after market close. A conference call will be held at 5:00 PM ET to discuss the results, accessible through their investor relations website. The company operates several well-known brands, including Williams Sonoma and Pottery Barn, and emphasizes its commitment to sustainability as part of its overall strategy. Williams-Sonoma also offers international shipping and has franchise stores in various international locations.

Williams-Sonoma, Inc. (NYSE: WSM) has appointed Paula Pretlow to its Board of Directors, where she will also serve on the Audit and Finance Committee. CEO Laura Alber expressed enthusiasm for Ms. Pretlow's leadership experience in major financial institutions and her alignment with the company's values. Board Chair Scott Dahnke noted her expertise in maximizing shareholder value will support the company's growth. Pretlow has held significant roles at The Capital Group, Montgomery Asset Management, and Blackrock, and serves on various boards, enhancing her qualifications for this role.

Airstream has launched the Pottery Barn Special Edition Travel Trailer, a 28-foot model priced at $145,500. This collaboration combines Airstream's travel innovation with Pottery Barn's timeless design, integrating high-quality amenities for comfort both on the road and at home. The trailer features a full kitchen, bathroom, and stylish finishes inspired by Pottery Barn collections. Designed for modern lifestyles, it accommodates up to four people and includes outdoor features for entertaining. The trailer is now available at dealers nationwide.

Williams Sonoma launched its seventh annual Tools For Change fundraising program to support No Kid Hungry, aiming to raise over $3.5 million to combat childhood hunger. The campaign features a limited-edition product collection, including spatulas and tea towels, designed by ten celebrities. Each spatula purchase can provide up to 40 meals, while tea towels provide 70 meals. Over the past decade, Williams Sonoma has raised over $13 million, providing more than 130 million meals to children in need, highlighting the ongoing impact of hunger exacerbated by the pandemic.