Boston, MA 05/22/2014 (wallstreetpr) – Williams-Sonoma Inc. (NYSE:WSM) shares are up in mid-morning trading session after the company reported solid results for the first quarter that beat estimates. Innovative and high quality products continue to make the main difference for the company in the industry, seen by impressive revenue generated in the quarter. Strong execution across all brands also drove the company to greater heights in terms of impressive results.
Revenue up by 7%
Williams-Sonoma’s 50% revenue came from direct-channel with multi-brand and multi-channel platform expected to drive consistent market share gains while also providing sustainable amount of competitive advantage going forward. Williams-Sonoma continues to execute against its growth strategies while also investing extensively to improve on profitability, as well as returning good value to shareholders.
Williams-Sonoma Inc. (NYSE:WSM) remains confident it is well positioned to deliver both on its short-term and long-term goals after registering impressive results for the first quarter. The company’s first quarter revenue grew by 9.7% to $974 million up from $888 million that had been reported for the first quarter of 2013. Comparable brand revenue, on the other hand, grew by 10% during the period.
Operating income grew by 16.5% in the quarter to a high of $74 million with an operating margin of 7.6% against 7.2% that had been reported a year earlier. Growth in Revenues enabled earnings per share increase by 20% to $0.48. During the quarter, Williams-Sonoma returned a total of $86 million to its stockholders an amount made of $53 million in stock repurchases and $33 million in dividends.
Direct-to-customer net revenues were a top gainer in the quarter increasing by 17.2% to $491 million from $419 million a year earlier. Retail net revenues, on the other hand, increased by 3.1% to $483 million from $469 million. During the quarter, Williams-Sonoma repurchased a total of 840,761 of its common stock at an average price of $63.41 share for a total of $53 million.
Going Forward, Williams-Sonoma Inc. (NYSE:WSM) expects its second quarter revenue to come in the range of between $1.02 billion and $1.04 billion with brand revenue expected to grow by between 4% and 6%.