Welcome to our dedicated page for Williams-Sonoma news (Ticker: WSM), a resource for investors and traders seeking the latest updates and insights on Williams-Sonoma stock.
Williams-Sonoma, Inc. (WSM) is a leading specialty retailer in the United States, founded in 1956. The company offers high-quality products for the kitchen and home through its well-known brands such as Williams-Sonoma, Pottery Barn, Pottery Barn Kids, PBteen, West Elm, Williams-Sonoma Home, Rejuvenation, and Mark and Graham. These brands are respected for their beautifully designed, functional, and stylish products across various home areas, including the kitchen, living room, bedroom, home office, closet, laundry room, and outdoor spaces.
With a robust retail and direct-to-consumer presence, Williams-Sonoma operates in a $300 billion domestic home category and a $450 billion international home market. The company is actively expanding its footprint in the B2B sector, marketplace, and franchise areas. Williams-Sonoma has a notable presence with 156 Williams-Sonoma stores, 184 Pottery Barn stores, 45 Pottery Barn Kids stores, 121 West Elm stores, and 11 Rejuvenation stores. The company's diverse product range and dedication to high-quality customer service have positioned it as a multi-brand, multi-channel global enterprise, supported by advanced technology and skilled teams.
Williams-Sonoma recently announced its 2024 partners for the World's Strongest Man competition, returning to Myrtle Beach, South Carolina. The event will showcase top athletes and involve partnerships with prominent brands such as Monro, BFGoodrich Tires, SBD Apparel, Rogue Fitness, and others. Williams-Sonoma’s engagement in such significant events highlights its commitment to community involvement and brand visibility.
Financially, Williams-Sonoma continues to demonstrate strong performance, driven by innovative product offerings and strategic market expansions. The company's efforts in supporting large-scale residential and commercial projects through its business-to-business services further bolster its market standing.
Overall, Williams-Sonoma, Inc. is a significant player in the home and kitchen retail sector, combining a rich legacy with forward-looking strategies to enhance customer experiences and drive growth.
Williams-Sonoma, Inc. (NYSE: WSM) recently announced the appointment of Anne Finucane to its Board of Directors. Finucane, Vice Chairman of Bank of America since 2015, brings extensive experience in financial services and a strong commitment to environmental, social, and governance (ESG) matters. Her strategic insights from her leadership roles and expertise in corporate social responsibility are expected to significantly enhance the Board’s effectiveness. Laura Alber, CEO, and Scott Dahnke, Board Chair, expressed their enthusiasm about her joining, underscoring her value in guiding company strategies.
Williams-Sonoma, Inc. (NYSE: WSM) announced new investments in Nest Ethical Handcraft products and will double its Fair Trade Premiums by 2025. This initiative aims for 75% of products to meet social and environmental standards by 2030, translating to $1B in annual purchases. Since 2014, the company has partnered with Fair Trade USA and Nest, impacting nearly 16,000 workers and over 3,600 artisans globally. Williams-Sonoma has committed nearly $20M in Fair Trade Premiums, fostering sustainable development in sourcing communities.
Williams-Sonoma, Inc. (NYSE: WSM) has announced an increase in its hourly minimum wage to
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.
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