Williams-Sonoma, Inc. (NYSE:WSM) shares are trading higher by 8.1% at $164.80 after the company reported better-than-expected fourth-quarter EPS results and announced a $1.5 billion stock buyback. The company also raised its quarterly dividend.
Williams-Sonoma reported quarterly earnings of $5.42 per share which beat the analyst consensus estimate of $4.82. Williams-Sonoma also reported quarterly sales of $2.50 billion which missed the analyst consensus estimate of $2.58 billion by 3%. This is a 9% increase over sales of $2.29 billion in the same period last year.
Williams-Sonoma's board of directors authorized a 10% increase in the company's quarterly cash dividend to 78 cents per share.
"Our impressive finish to fiscal 2021, our strong liquidity position, and our operating cash flows have allowed us to increase our quarterly dividend, and to authorize a new stock repurchase program of $1.5 billion," said Laura Alber, President and Chief Executive Officer. "These actions reflect our commitment to execution and the resulting return of value to our shareholders."
Williams-Sonoma is a leader in the domestic home furnishings category.
Williams-Sonoma has a 52-week high of $223.32 and a 52-week low of $127.85.
