Williams-Sonoma Inc

Williams-Sonoma, Inc. is a home retailer. It designs its own furniture, cookware, bedding, lighting and decor and sells them under nine brands, including Pottery Barn, West Elm, Williams Sonoma and Rejuvenation. It sells mainly to households and also to companies through a business-to-business division. The company calls itself omni-channel, meaning its sales channels work together. Those channels are e-commerce websites, direct-mail catalogs and 506 company-run stores, which also serve as design centers and bring in online sales. A loyalty and credit card program, The Key Rewards, ties the brands together.

In the fiscal year ended February 1, 2026, revenue was about $7.8 billion. Pottery Barn brought in 38.4%, West Elm 23.8%, the Williams Sonoma brand 17.5%, Pottery Barn Kids and Teen 14.6%, and other businesses 5.7%. The company makes money on the gap between what its goods cost and what customers pay. Its gross margin, the share of sales left after the cost of goods, was 46.2%. Net income was about $1.09 billion.

Most stores are in the US: 473 across 41 states, Washington, D.C. and Puerto Rico. There are also 18 in Canada, 13 in Australia and 2 in the United Kingdom. Franchise partners run 90 more locations in Mexico, South Korea, India and the Philippines. Sales and profits depend heavily on the October-to-January peak season.

• In Q2 FY2027 (ended Aug 2, 2026), revenue was $1.96B, up 6.7% from a year earlier, and net income was $338.1M (+36.6%).
• For fiscal 2026, revenue was $7.81B (+1.2% year over year; +2.9% a year from FY2021 to FY2026) with a 13.9% net margin.

• Over FY2022–FY2026: $3.75B in buybacks and $1.23B in dividends.
• At least 9 consecutive annual increases: every fiscal year in the SEC data (FY2017–FY2026) shows an increase; the true streak may be longer.
• Regular dividends per share grew +21.2% a year over 5 years (FY2021–FY2026).
• Dividends took 29.1% of earnings and 30% of free cash flow in the latest fiscal year.
• Shares outstanding changed -20.8% from Aug 29, 2021 to Aug 23, 2026.

Rank among 1514 US companies

Market value at each year end

Williams-Sonoma’s market value went from $4.25B at the end of 2016 to $30.56B on Nov 2, 2026, about 7.2 times as much; since the end of 2025 it is up 43%.

Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 24 sales ($17.1M), 24 of them under pre-arranged 10b5-1 trading plans.

Large shareholders (13G filings)

ETFs with the most weight in WSM

1. Tariffs on goods made abroad. About 81% of merchandise purchases came from abroad in the fiscal year to February 1, 2026: 19% from China, 16% from Vietnam and 15% from India. Higher tariffs could raise costs, force price increases or delay deliveries.
2. Bulky furniture is hard to deliver well. Sofas and other large furniture must be stocked, shipped and delivered undamaged. Misjudging inventory or mishandling fulfillment can lead to markdowns, damages, returns and replacements. The company is working to reduce these.
3. Missing shifts in taste across nine brands. Home styles change. If designs fall out of favor, or new brands and brand extensions fail to catch on, sales at established brands could drop, and the share price could fall with them.
4. Results hinge on the holiday season. A large share of revenue and earnings comes from October through January. A weak holiday period, or inventory and delivery problems at that time, can drag down a whole year's results.
5. Discount rivals and online competition. It competes with department stores, discount chains, specialty retailers and online sellers, including newcomers selling generic goods at lower prices. That pressure could make full-price selling, which supports margins, harder.
6. Home spending is easy to postpone. Furniture, rugs and cookware are purchases many households can delay. When consumers cut back on home furnishings and kitchen products, demand for all of the company's brands could fall together.

• Oct 19, 2026 Executive or board change
• Aug 26, 2026 Quarterly results released
• Jun 22, 2026 Shareholder vote results
• May 21, 2026 Quarterly results released
• Mar 18, 2026 Quarterly results released; Other company announcement
• Nov 19, 2025 Quarterly results released

Williams-Sonoma pays a growing but modest dividend. It has raised its dividend for at least 9 consecutive fiscal years. Adjusted for a 2024 stock split, dividends per share rose from $1.01 to $2.64 over the five fiscal years to February 1, 2026, about 21% a year. In the final year, dividends used about 29% of earnings and 30% of free cash flow (cash left after paying for operations and investment). The yield was 1.18% as of October 28, 2026, so the income is small. Buybacks are larger. Over five fiscal years the company spent about $3.75 billion buying back shares versus $1.23 billion on dividends. The share count fell about 21% between August 2021 and August 2026.

The shares have fallen hard in downturns. They dropped 85.5% in the 2008 financial crisis and took about 22 months to recover. They fell 58.6% in the 2020 COVID crash and 36.9% in the 2022 bear market. A single stock carries more risk than a diversified fund.