For the 53 weeks of fiscal 2024, net revenues, including the impact of the additional 1 weeks, decreased $39.1 million, or 0.5%, with company comp decline of 1.6%, the company said. It cited customer hesitancy towards furniture purchases as a factor in the decrease.

1. 01

   For the 53 weeks of fiscal 2024, net revenues, including the impact of the additional 1 weeks, decreased $39.1 million, or 0.5%, with company comp decline of 1.6%, the company said. It cited customer hesitancy towards furniture purchases as a factor in the decrease.

2. 02

   The company said gross margin for fiscal 2024 was 46.5%, up 390 basis points from 42.6% in fiscal 2023. Diluted earnings per share were $8.79, which included the benefit of an out-of-period freight adjustment of $0.29 in the first quarter, compared to $7.28 in the prior year.

3. 03

   Williams-Sonoma said net cash provided by operating activities for fiscal 2024 was $1.4 billion, compared to $1.7 billion in fiscal 2023, and ended the year with a cash balance of $1.2 billion with no outstanding borrowings under its revolving line of credit. Capital expenditures were $221.6 million, and the company returned $1.1 billion through stock repurchases and dividends.

4. 04

   The company determined in April 2024 that it had over-recognized freight expense in fiscal 2021 through 2023 for a cumulative amount of $49.0 million. It said the Consolidated Financial Statements for fiscal 2024 included an out-of-period adjustment recorded in the first quarter to reduce cost of goods sold and accounts payable.

Key figures

Fiscal year ended February 2, 2025

Revenue

$7.8B

Operating income

$1.2B

Net income

$950M

EPS

$7.28

Gross profit

$3.3B

Operating cash flow

$1.7B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.