williams-sonoma inc (WSM) Key Developments
Williams-Sonoma Inc. Announces Executive Promotions
Jul 24 14
Williams-Sonoma Inc. announced that several strategic organizational changes to position the company for continued growth. The announcements were made by Laura Alber, President and Chief Executive Officer. Chief Marketing Officer Pat Connolly will assume the position of Chief Strategy and Business Development Officer. In this role, Mr. Connolly will work closely with senior management to refine the company's long-term strategy, including the development of new businesses, and the evaluation and execution of acquisitions and alliances that can provide significant growth. Chief Information Officer John Strain has been promoted to the position of Chief Digital and Technology Officer. In this new role, Mr. Strain will assume additional responsibility for the company's digital and direct marketing efforts. Felix Carbullido has been promoted to the position of Chief Marketing Officer, succeeding Mr. Connolly and reporting to Mr. Strain. Dean Miller has been promoted to the position of Chief Operating Officer.
Williams-Sonoma Inc. Announces the Hiring of Ronald R. Young as Senior Vice President, Global
Jul 16 14
Williams-Sonoma Inc. announced the hiring of Ronald R. Young as Senior Vice President, Global. Young will grow the portfolio of Williams-Sonoma Inc. brands outside the United States. Reporting directly to Alber, Young will work in partnership with Williams-Sonoma Inc. brand presidents at Pottery Barn, Williams-Sonoma and West Elm to grow each brand's global business. Alber said Young will expand the network of company-owned stores, eCommerce sites and franchise partnerships worldwide. Young's extensive experience in global markets includes positions at Pepsi-Cola, Gap Inc., Express, and most recently Children's Place.
Pottery Barn and Pottery Barn Kids Open First Stores in the Philippines with Franchise Partner Store Specialists, Inc
Jul 15 14
Williams-Sonoma Inc. announced that its iconic brands, Pottery Barn and Pottery Barn Kids, opened at Central Square, Bonifacio High Street, the premier retail destination in Manila. As part of William-Sonoma Inc.'s strategic global expansion, these stores are the first Pottery Barn and Pottery Barn Kids locations in Southeast Asia.
Williams-Sonoma Inc. Declares Quarterly Cash Dividend, Payable on August 26, 2014
Jun 20 14
Williams-Sonoma Inc. announced that its board of directors has declared a quarterly cash dividend of $0.33 per common share. The dividend is payable on August 26, 2014 to stockholders of record as of the close of business on July 25, 2014.
Williams-Sonoma Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended May 4, 2014; Provides Earnings Guidance for the Second Quarter and Full Year of 2014
May 21 14
Williams-Sonoma Inc. reported unaudited consolidated earnings results for the first quarter ended May 4, 2014. For the quarter, the company reported net revenues of $974,330,000 against $887,808,000 a year ago. Operating income was $74,326,000 against $63,783,000 a year ago. Earnings before income taxes were $74,395,000 against $3,972,000 a year ago. Net earnings were $46,162,000 against $39,466,000 a year ago. Diluted earnings per share were $0.48 against $0.40 a year ago. Net cash used in operating activities were $70,329,000 against $59,822,000 a year ago. Purchases of property and equipment were $38,119,000 against $47,444,000 a year ago. Non-GAAP diluted EPS excluding UBE was $0.41.
The company provided earnings guidance for the second quarter of fiscal year 2014. For the quarter, the company expects net revenues to be in the range of $1.020 billion to $1.040 billion. Diluted EPS is expected to be in the range of $0.49 to $0.52.
The company provided earnings guidance for the year 2014. For the year, the company expects net revenues to be in the range of $4,645 million to $4,725 million. Diluted EPS is expected to be in the range of $3.07 to $3.17. Operating margin is expected to be in a range of 10.2% to 10.4%. Income tax rate is expected to be in a range of 38.0% to 38.5%. Capital spending is expected to be in a range of $200 million to $220 million. The company expects non-GAAP diluted EPS excluding UBE to be $2.84.