Williams-Sonoma, Inc. (WSM) stock soared 8.24% in the after-market trading session at the price of $165.01 after announcing stock repurchase authorization and financial results for the fiscal year 2021.
WSM is the biggest design-led, digital-first, and sustainable house vendor. Its products, representing unique merchandise designs, are traded via e-commerce websites, retail stores, and direct-mail catalogs.
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WSM $1.5B Stock Repurchase Authorization
On 16th March 2022, WSM announced that its directors had approved a 10 percent rise in its quarterly cash dividend to US$0.78 for each share. The cash dividend is payable to stockholders of record on 27th May 2022. The board had also approved stock repurchase authorization worth US$1.5B. This new authorization will become effective on 16th March 2022.
President and CEO of WSM, Laura Alber, commented that their operating cash flows, strong liquidity position, and exceptional 2021 results had authorized them to raise quarterly dividends and approve a US$1.5B stock repurchase program. These actions affirm their faith in implementation and the consequent return of shareholders’ value.
WSM Record Q4 Financial Results
On 16th March 2022, WSM announced its operating results for fiscal Q4 and year 2021 ended 30th January 2022. Brand revenue growth was 10.8 percent for Q4 of 2021. The gross margin and operating margins were 45% and 21%, respectively, for fiscal Q4 of 2021. Diluted EPS was US$5.41 during the quarter.
Management Comments
Laura Alber remarked that they are delighted to achieve record 2021 results with an operating margin growth of 310 points. These results illustrate their resilience in the business model, as they have navigated unusual challenges within the supply chain and capacity constraints from their customer demand.
This resilience with steady execution of other growth projects fueled an EPS growth to $14.85 per share. They are very proud of their achievements, record fiscal 2021 results, and the remarkable work of their team. They will keep raising the bar and expand this momentum in the fiscal year 2022, Alber concluded.
