Williams Sonoma Q1 Revenue Down, Net Income Declines

Ticker: WSM · Form: 10-Q · Filed: 2024-05-24T00:00:00.000Z

Sentiment: bearish

Topics: earnings, revenue-decline, net-income-decline

Related Tickers: WSM

TL;DR

WSM Q1 revenue down to $1.45B from $1.52B YoY, net income fell to $74.1M from $100.1M. Tough quarter.

AI Summary

Williams Sonoma Inc. reported its first quarter results for the period ending April 28, 2024. The company's financial statements show a net revenue of $1.45 billion for the first quarter of fiscal 2024, a decrease from $1.52 billion in the same period last year. Net income for the quarter was $74.1 million, down from $100.1 million in the prior year's first quarter.

Why It Matters

This filing indicates a slowdown in sales for Williams Sonoma, which could signal broader consumer spending trends in the home furnishings sector.

Risk Assessment

Risk Level: medium — The decline in revenue and net income suggests potential headwinds for the company and the retail sector.

Key Numbers

Key Players & Entities

FAQ

What was Williams Sonoma's net revenue for the first quarter of fiscal 2024?

Williams Sonoma's net revenue for the first quarter of fiscal 2024, ending April 28, 2024, was $1.45 billion.

How did the net income in Q1 2024 compare to Q1 2023?

Net income decreased to $74.1 million in Q1 2024 from $100.1 million in Q1 2023.

What is the reporting period for this 10-Q filing?

The conforming period of report is April 28, 2024.

What was the company's net revenue in the first quarter of fiscal 2023?

The company's net revenue in the first quarter of fiscal 2023 was $1.52 billion.

What is the ticker symbol for Williams Sonoma Inc.?

While not explicitly stated in the provided text, Williams Sonoma Inc. is commonly known by the ticker WSM.

From the Filing

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