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Williams Sonoma

WSM Q4 2026 Earnings

Reported Mar 18, 2026 at 9:03 AM ET · SEC Source

Q4 26 EPS

$3.04

BEAT +5.19%

Est. $2.89

Q4 26 Revenue

$2.36B

MISS 2.50%

Est. $2.42B

vs S&P Since Q4 26

-15.6%

TRAILING MARKET

WSM -6.4% vs S&P +9.2%

Full Year 2026 Results

FY 26 EPS

$8.84

BEAT +1.37%

Est. $8.72

FY 26 Revenue

$7.81B

MISS 0.77%

Est. $7.87B

Market Reaction

Did WSM Beat Earnings? Q4 2026 Results

Williams-Sonoma closed out Q4 fiscal 2025 with a split verdict, delivering a meaningful earnings beat while falling slightly short on the top line. The home furnishings retailer posted diluted EPS of $3.04, clearing the $2.89 consensus by 5.19%, but … Read more Williams-Sonoma closed out Q4 fiscal 2025 with a split verdict, delivering a meaningful earnings beat while falling slightly short on the top line. The home furnishings retailer posted diluted EPS of $3.04, clearing the $2.89 consensus by 5.19%, but net revenues of $2.36 billion came in below the $2.42 billion estimate, with the year-over-year decline of 4.3% partly explained by the quarter running 13 weeks versus 14 in the prior-year period. On an apples-to-apples 13-week basis, comparable brand revenue actually grew 3.2%, with Williams Sonoma and West Elm leading the way while Pottery Barn lagged. Gross margin pressure from lower merchandise margins and occupancy deleverage weighed on profitability, though supply chain efficiencies offered a partial offset. Management noted that rising inventory levels reflect roughly $80 million in incremental tariff costs, a theme expected to front-load pressure into the first half of fiscal 2026. Looking ahead, the company guided for revenue growth of 2.7% to 6.7% and an operating margin between 17.5% and 18.1%, while also raising its quarterly dividend 15% to $0.76 per share.

Key Takeaways

  • • Comparable brand revenue growth of +3.2% in Q4 and +3.5% for fiscal year
  • • Supply chain efficiencies contributing +50bps to gross margin
  • • Favorable physical inventory results contributing +160bps to Q4 gross margin
  • • Strong consumer demand for distinctive products and brands
  • • Lower SG&A dollars year-over-year despite rate deleverage
  • • Williams Sonoma brand comparable growth of 7.2% in Q4

WSM Forward Guidance & Outlook

For fiscal 2026, Williams-Sonoma expects annual net revenues to grow in the range of +2.7% to +6.7%, with comparable brand revenue growth of +2.0% to +6.0%, and an operating margin between 17.5% and 18.1%. Guidance assumes no refund of IEEPA tariffs paid, that all tariff rates currently in place remain for fiscal 2026 (including Section 232, Section 301, and Section 122 tariffs), and that the tariff impact will be front-loaded in the first half of the year. Although Section 122 tariffs expire in July 2026, guidance assumes replacement at a similar rate. Over the long term, the company continues to target mid-to-high single-digit annual net revenue growth with an operating margin in the mid-to-high teens.

24/7 Wall St

WSM YoY Financials

Q4 2026 vs Q4 2025, source: SEC Filings

24/7 Wall St

WSM Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 25 Q4 26

“We are proud of our strong finish to 2025. In Q4, our comp came in at +3.2%, and we delivered an operating margin of 20.3% with earnings per share of $3.04. Normalizing for the 53rd week last year and the tariff impact this year, we delivered substantial operating margin improvement versus last year. As we look forward to 2026 and beyond, we are confident in our competitive advantages that have allowed us to take market share, and our focus is on widening that advantage.”

— Laura Alber, Q4 2026 Earnings Press Release

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