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Williams-Sonoma 8-K Report, Financial Results (May 21, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 21, 2026
Period End
May 21, 2026
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 · Sep ’16Sep ’16
  2. Leadership change8-K · Jul ’19Jul ’19
  3. Leadership change8-K · Aug ’21Aug ’21
  4. Material agreement8-K · Jun ’25Jun ’25

01—Abstract

Summary

Summary of the 8-K filed May 21, 2026. Cited figures are marked; the original filing is the authoritative source.

Williams-Sonoma, Inc. (NYSE: WSM) reported first-quarter 2026 results for the thirteen weeks ended May 3, 2026, furnishing a press release (Exhibit 99.1) under Item 2.02.

Net revenues were $1.81 billiona, up from $1.73 billion a year earlier, and total comparable brand revenue grew 4.8%. Gross margin was 44.0% versus 44.3% a year earlier, SG&A was $501.7 million (27.8% of net revenues), and operating income was $291.7 million, a 16.2% operating margin compared with 16.8% last year. Diluted EPS was $1.93 versus $1.85, and net earnings were $231.4 million, essentially flat with $231.3 million a year earlier.

The company stated that it has not yet filed its Form 10-Q for the quarter, so the results are preliminary and subject to change. Management highlighted that tariff costs of approximately $60 millionb were included in merchandise inventories, and that tariff impacts are expected to be front-loaded in the first half of fiscal 2026. Cash and cash equivalents fell to $651.6 million from $1.02 billion at fiscal year-end, reflected in $287.8 million of stock repurchases and $85.6 million of dividend payments during the quarter.

Williams-Sonoma reiterated its fiscal 2026 outlook, which calls for net revenue growth of 2.7%c to 6.7%, comparable brand revenue growth of 2.0% to 6.0%, and an operating margin between 17.5% and 18.1%. The guidance assumes elevated oil prices, no refund of tariffs paid, and that all current tariff rates remain in place for the year. Long-term targets of mid-to-high single-digit annual net revenue growth and a mid-to-high teens operating margin were also reiterated.

02—Key points

Key Highlights

  1. Net revenues rose to $1.81 billion from $1.73 billion, with comparable brand revenue up 4.8%, led by West Elm (8.5% comp growth) and Williams Sonoma (5.0%).
  2. Operating income was $291.7 million with a 16.2% operating margin, down from 16.8% a year earlier, as gross margin declined to 44.0% from 44.3%.
  3. Diluted EPS was $1.93 versus $1.85 a year earlier, while net earnings were roughly flat at $231.4 million.
  4. Merchandise inventories were $1.46 billion, including approximately $60 million of incremental tariff costs.
  5. Returned $373 million to stockholders in the quarter through $288 million of share repurchases and $85 million of dividends; cash ended at $652 million.
  6. Fiscal 2026 guidance was reiterated: net revenue growth of 2.7% to 6.7%, comps of 2.0% to 6.0%, and an operating margin of 17.5% to 18.1%.
  7. Results are preliminary because the Form 10-Q for the quarter had not yet been filed at the time of this release.

03—Questions

Frequently Asked Questions

  1. Did Williams-Sonoma change its full-year outlook?

    No. The company reiterated its fiscal 2026 guidance, including net revenue growth of 2.7% to 6.7%, comparable brand revenue growth of 2.0% to 6.0%, an operating margin between 17.5% and 18.1%, interest income of about $25 million, and an effective tax rate of about 25.5%.

  2. How much did tariffs affect the quarter?

    The company said merchandise inventories included incremental tariff costs of approximately $60 million. Its guidance assumes tariff impacts are front-loaded in the first half of fiscal 2026 and that all current tariff rates remain in effect, with no refund of tariffs paid.

  3. Why did operating margin decline even though revenue grew?

    Gross margin fell 30 basis points to 44.0%, driven by lower merchandise margins of 100 basis points, partly offset by supply chain efficiencies and occupancy leverage. The SG&A rate also rose to 27.8%, mainly due to higher employment expense.

  4. Are the reported results final?

    Not yet. The company stated it has not filed its Form 10-Q for the quarter ended May 3, 2026, so all financial results are preliminary and subject to change for any necessary adjustments or changes in accounting estimates identified before that filing.

  5. How is the company using its cash?

    In the quarter, Williams-Sonoma repurchased $287.8 million of common stock and paid $85.6 million in dividends. Cash and cash equivalents declined to $651.6 million from $1.02 billion at February 1, 2026.

04—Continue

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