Williams-Sonoma Q1 revenues increased 6.5%Staff writer ▼ | May 26, 2016
Williams-Sonoma announced operating results for the first fiscal quarter ended May 1, 2016. Revenues grew 6.5% to $1.098 billion versus $1.031 billion in Q1 15 with comparable brand revenue growth of 4.5%.
Williams-Sonoma Q1 2016 operating margin was 5.8%
Q1 2016 diluted earnings per share (EPS) was $0.44 versus $0.48 in Q1 15. Excluding unusual business events due to severance-related reorganization charges of approximately $0.09 per diluted share, non-GAAP EPS was $0.53 in Q1 2016. See Exhibit 1 for a reconciliation of GAAP to non-GAAP EPS.
Cash returned to stockholders totaled $75 million, comprising $41 million in stock repurchases and $34 million in dividends.
Laura Alber, president and chief executive officer, commented, "In the first quarter we saw accelerated growth in West Elm and Williams-Sonoma, as well as improvement across the Pottery Barn brands.
We also saw positive results from our inventory and supply chain initiatives. We believe our strong brands and profitable multi-channel strategy create a sustainable competitive advantage. We are executing against our key growth and profitability initiatives, and believe we are on track to deliver on both our near and longer-term goals." ■