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Williams-Sonoma 8-K Report, Financial Results (Nov 19, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed November 19, 2025
Period End
November 19, 2025
Security
WSM
In the record · 2016–202610-K1110-Q328-K84

WSM filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 84 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jan ’18Jan ’18
  2. Material agreement8-K · Aug ’20Aug ’20
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Leadership change8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed November 19, 2025. Cited figures are marked; the original filing is the authoritative source.

Williams-Sonoma, Inc. reported third-quarter 2025 results for the quarter ended November 2, 2025, with net revenues of $1.88 billiona (up from $1.80 billion), comparable brand revenue growth of 4.0%, operating income of $319 million (17.0% operating margin, up 10 basis points), and diluted EPS of $1.96 versus $1.87 a year earlier.

Gross margin rose to 46.1%, driven by higher merchandise margins and supply chain efficiencies, partly offset by higher occupancy costs, while SG&A rose to 29.1% of revenues on higher performance-based incentive compensation and advertising. The company reiterated its fiscal 2025 comparable brand revenue growth outlook of 2% to 5% and net revenue guidance of +0.5% to +3.5%, and raised its fiscal 2025 operating margin outlook to 17.8% to 18.1%. Management also highlighted a new $1 billionb stock repurchase authorization, approved in November 2025, which becomes effective once the existing authorization (with $637 million remaining as of November 2, 2025) is fully used.

The company cited tariff costs, including new Section 232 furniture tariffs and steel, aluminum and copper tariffs, as factors in its guidance and inventory levels, which rose 9.6% year over year to $1.5 billionc. The filing also discloses an out-of-period adjustment of $49 million recorded in Q1 2024 to correct over-recognized freight expense from fiscal 2021 through 2023, which the company determined was not material to prior periods. The company noted that its Form 10-Q for the quarter had not yet been filed, so the results are preliminary and subject to change.

02—Key points

Key Highlights

  1. Q3 net revenues of $1,882.8 million, up from $1,800.7 million, with total comparable brand revenue growth of 4.0%, and positive comps in all brands.
  2. Operating income of $319.1 million, a 17.0% operating margin (up 10 basis points); gross margin of 46.1%, up 70 basis points.
  3. Diluted EPS of $1.96 versus $1.87 in the prior-year quarter; net earnings of $241.6 million.
  4. Fiscal 2025 operating margin guidance raised to 17.8%–18.1%; comparable brand revenue growth (2%–5%) and net revenue growth (+0.5% to +3.5%) guidance reiterated.
  5. New $1 billion stock repurchase authorization approved in November 2025, effective after the current $637 million remaining authorization is fully used.
  6. Returned $347 million to stockholders in the quarter through $267 million of repurchases and $80 million of dividends; cash of $885 million at quarter end.
  7. Merchandise inventories rose 9.6% year over year to $1.5 billion, including incremental tariff costs and a strategic pull-forward of receipts.

03—Questions

Frequently Asked Questions

  1. How did Williams-Sonoma perform in the third quarter of 2025?

    Net revenues were $1.88 billion versus $1.80 billion a year earlier, comparable brand revenue grew 4.0%, operating income was $319 million at a 17.0% margin, and diluted EPS was $1.96 compared with $1.87.

  2. What changed in the company's fiscal 2025 guidance?

    The company raised its operating margin outlook to 17.8%–18.1% and reiterated its comparable brand revenue growth range of 2%–5% and net revenue growth range of +0.5% to +3.5%.

  3. What is the new stock repurchase authorization?

    The Board approved a new $1 billion repurchase authorization in November 2025. It takes effect once the existing September 2024 authorization, which had $637 million remaining as of November 2, 2025, is fully utilized.

  4. What tariff exposures does the guidance reflect?

    The updated guidance includes new Section 232 tariffs on furniture, additional tariffs on China of 20%, tariffs on India of 50%, tariffs on Vietnam of 20%, average tariffs on the rest of the world of 18%, and 50% tariffs on steel, aluminum and copper.

  5. Did the company restate prior financial results?

    No. The company recorded a $49 million out-of-period freight expense adjustment in the first quarter of fiscal 2024 to correct over-recognized freight expense from fiscal 2021 through 2023, determining that no prior interim or annual periods were materially misstated.

04—Continue

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