{"id":77913,"date":"2024-03-13T08:59:02","date_gmt":"2024-03-13T13:59:02","guid":{"rendered":"https:\/\/equitynewsreport.com\/williams-sonoma-stock-jumps-on-q4-beat-dividend-hike\/"},"modified":"2024-03-13T08:59:02","modified_gmt":"2024-03-13T13:59:02","slug":"williams-sonoma-stock-jumps-on-q4-beat-dividend-hike","status":"publish","type":"post","link":"https:\/\/equitynewsreport.com\/h\/williams-sonoma-stock-jumps-on-q4-beat-dividend-hike\/","title":{"rendered":"Williams-Sonoma stock jumps on Q4 beat, dividend hike"},"content":{"rendered":"<div readability=\"74\">\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<img decoding=\"async\" alt=\"Williams-Sonoma stock jumps on Q4 beat, dividend hike\" id=\"carouselImage\" src=\"https:\/\/i-invdn-com.investing.com\/news\/fa8a2f803ea2ddf92359d55091dcde0a_L.jpg\"><br \/>\n<span class=\"text\">\u00a9 Reuters. Williams-Sonoma (WSM) stock jumps on Q4 beat, dividend hike<\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>Williams-Sonoma (NYSE:) saw its shares rise 7% at the market open Wednesday after the consumer retail company reported better-than-expected fiscal Q4 earnings and revenue.<\/p>\n<p>The company generated quarterly earnings per share (EPS) of $5.44, topping the consensus estimates of $5.14. Revenue came in at $2.28 billion, also above the estimated $2.22 billion.<\/p>\n<p>The adjusted operating margin for the quarter was reported at 20.1%, slightly above last year&#8217;s 19.9% and in line with the estimated 20%.<\/p>\n<p>Looking ahead to fiscal year 2024, Williams-Sonoma anticipates its annual net revenue growth to vary between -3% and +3%, with comparable sales (comps) expected to range from -4.5% to +1.5%. <\/p>\n<p>The retailer also forecasts an operating margin between 16.5% and 16.8%.<\/p>\n<p>Furthermore, it declared a 26% hike in its quarterly cash dividend to $1.13 per share, payable on May 24, 2024, to shareholders recorded by April 19, 2024. Also, the company&#8217;s Board of Directors has approved a new $1 billion stock buyback program, replacing the existing authorization.<\/p>\n<p>\u201cWe outperformed in 2023 despite the slowest housing market in several decades and geopolitical unrest. Although this pressured our top-line trend, we stayed focused on full-price selling, supply chain efficiencies, and best-in-class customer service,\u201d said Laura Alber, President and CEO of Williams-Sonoma. <\/p>\n<p>\u201cWe have transformed our business model and as a result, we delivered an operating margin well ahead of our pre-pandemic profitability.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters. Williams-Sonoma (WSM) stock jumps on Q4 beat, dividend hike Williams-Sonoma (NYSE:) saw its shares rise 7% at the market open Wednesday after the consumer retail company reported better-than-expected fiscal Q4 earnings and revenue. The company generated quarterly earnings per share (EPS) of $5.44, topping the consensus estimates of $5.14. Revenue came in at $2.28 billion, also above the estimated $2.22 billion. The adjusted operating margin for the quarter was reported at 20.1%, slightly above last year&#8217;s 19.9% and in line with the estimated 20%. Looking ahead to fiscal year 2024, Williams-Sonoma anticipates its annual net revenue growth to [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":77914,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,49,50,3],"tags":[],"_links":{"self":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77913"}],"collection":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/comments?post=77913"}],"version-history":[{"count":0,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77913\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media\/77914"}],"wp:attachment":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media?parent=77913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/categories?post=77913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/tags?post=77913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}