wsm-20260503

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_________________________

FORM 10-Q

_________________________

(Mark One)


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended May 3, 2026.


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 001-14077

_________________________

WILLIAMS-SONOMA, INC.

(Exact name of registrant as specified in its charter)

_________________________

Delaware

(State or other jurisdiction of

incorporation or organization)

3250 Van Ness Avenue, San Francisco, CA

(Address of principal executive offices)

94-2203880

(I.R.S. Employer

Identification No.)

94109

(Zip Code)

(415) 421-7900

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

_________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Common Stock, par value $.01 per share

WSM

New York Stock Exchange, Inc.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☒	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

As of May 17, 2026, 117,746,611 shares of the registrant’s Common Stock were outstanding.


	PART I. FINANCIAL INFORMATION
		PAGE
Item 1.	Financial Statements (Unaudited)	1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	13
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	18
Item 4.	Controls and Procedures	19
	PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	20
Item 1A.	Risk Factors	20
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	20
Item 3.	Defaults Upon Senior Securities	20
Item 4.	Mine Safety Disclosures	20
Item 5.	Other Information	21
Item 6.	Exhibits	22


	For the Thirteen Weeks Ended
(In thousands, except per share amounts)	May 3, 2026		May 4, 2025
Net revenues	$	1,805,456	$	1,730,113
Cost of goods sold	1,012,030		964,304
Gross profit	793,426		765,809
Selling, general and administrative expenses	501,738		475,096
Operating income	291,688		290,713
Interest income, net	6,907		9,533
Earnings before income taxes	298,595		300,246
Income taxes	67,233		68,983
Net earnings	$	231,362	$	231,263
Basic earnings per share	$	1.95	$	1.88
Diluted earnings per share	$	1.93	$	1.85
Shares used in calculation of earnings per share:
Basic	118,386		123,108
Diluted	119,894		124,789


	For the Thirteen Weeks Ended
(In thousands)	May 3, 2026		May 4, 2025
Net earnings	$	231,362	$	231,263
Other comprehensive income (loss):
Foreign currency translation adjustments	761		5,170


Comprehensive income	$	232,123	$	236,433


	As of
(In thousands, except per share amounts)	May 3, 2026		February 1, 2026		May 4, 2025
ASSETS
Current assets
Cash and cash equivalents	$	651,601	$	1,019,801	$	1,047,181
Accounts receivable, net	139,347		126,821		122,773
Merchandise inventories, net	1,455,030		1,462,849		1,335,356
Prepaid expenses	80,035		80,053		69,442
Other current assets	19,699		23,663		22,570
Total current assets	2,345,712		2,713,187		2,597,322
Property and equipment, net	1,102,339		1,095,158		1,031,990
Operating lease right-of-use assets	1,295,745		1,270,272		1,198,440
Deferred income taxes, net	83,686		99,161		112,366
Goodwill	77,386		77,398		77,347
Other long-term assets, net	154,680		156,736		139,850
Total assets	$	5,059,548	$	5,411,912	$	5,157,315
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	560,674	$	637,985	$	553,655
Accrued expenses	151,462		314,588		146,692
Gift card and other deferred revenue	622,049		602,940		589,432
Income taxes payable	113,920		78,943		112,390


Operating lease liabilities	215,150		221,356		229,070
Other current liabilities	99,517		98,318		90,604
Total current liabilities	1,762,772		1,954,130		1,721,843


Long-term operating lease liabilities	1,278,414		1,235,549		1,139,745
Other long-term liabilities	148,558		139,674		134,451
Total liabilities	3,189,744		3,329,353		2,996,039
Commitments and contingencies – See Note F
Stockholders’ equity
Preferred stock: $0.01 par value; 7,500 shares authorized; none issued	—		—		—
Common stock: $0.01 par value; 253,125 shares authorized; 117,743, 118,770 and 122,994 shares issued and outstanding at May 3, 2026, February 1, 2026 and May 4, 2025, respectively	1,178		1,188		1,231
Additional paid-in capital	517,774		587,433		524,405
Retained earnings	1,364,925		1,509,129		1,654,078
Accumulated other comprehensive loss	(12,415)		(13,176)		(16,423)
Treasury stock, at cost: 11, 14 and 14 shares as of May 3, 2026, February 1, 2026 and May 4, 2025, respectively	(1,658)		(2,015)		(2,015)
Total stockholders’ equity	1,869,804		2,082,559		2,161,276
Total liabilities and stockholders’ equity	$	5,059,548	$	5,411,912	$	5,157,315


	Common Stock			Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock		Total Stockholders’ Equity
(In thousands)	Shares	Amount
Balance at February 1, 2026	118,770	$	1,188	$	587,433	$	1,509,129	$	(13,176)	$	(2,015)	$	2,082,559
Net earnings	—	—		—		231,362		—		—		231,362
Foreign currency translation adjustments	—	—		—		—		761		—		761


Release of stock-based awards 1	581	6		(93,312)		—		—		(290)		(93,596)
Repurchases of common stock 2	(1,608)	(16)		(5,307)		(284,320)		—		—		(289,643)

Reissuance of treasury stock under stock-based compensation plans 1	—	—		(388)		(259)		—		647		—
Stock-based compensation expense	—	—		29,348		—		—		—		29,348
Dividends declared	—	—		—		(90,987)		—		—		(90,987)
Balance at May 3, 2026	117,743	$	1,178	$	517,774	$	1,364,925	$	(12,415)	$	(1,658)	$	1,869,804


(In thousands, except per share amounts)	Net Earnings		Weighted Average Shares	Earnings Per Share
Thirteen weeks ended May 3, 2026
Basic	$	231,362	118,386	$	1.95
Effect of dilutive stock-based awards			1,508
Diluted	$	231,362	119,894	$	1.93
Thirteen weeks ended May 4, 2025
Basic	$	231,263	123,108	$	1.88
Effect of dilutive stock-based awards			1,681
Diluted	$	231,263	124,789	$	1.85


	For the Thirteen Weeks Ended 1
(In thousands)	May 3, 2026		May 4, 2025
Pottery Barn	$	708,447	$	695,092
West Elm	471,174		437,085
Williams Sonoma 2	271,542		257,493
Pottery Barn Kids and Teen	240,149		229,716


Other 3	114,144		110,727
Total 4	$	1,805,456	$	1,730,113
1Includes business-to-business net revenues within each brand.
2Includes Williams Sonoma Home net revenues.
3Primarily consists of net revenues from Rejuvenation, Mark and Graham, our international franchise operations, GreenRow and Dormify.
4Includes net revenues related to our international operations (including our operations in Canada, Australia, the United Kingdom, and our franchise businesses) of $73.4 million and $77.8 million for the thirteen weeks ended May 3, 2026 and May 4, 2025, respectively.


(In thousands)	Foreign Currency Translation		Accumulated Other Comprehensive Income (Loss)
Balance at February 1, 2026	$	(13,176)	$	(13,176)
Foreign currency translation adjustments	761		761


Other comprehensive income (loss)	761		761
Balance at May 3, 2026	$	(12,415)	$	(12,415)











Balance at February 2, 2025	$	(21,593)	$	(21,593)
Foreign currency translation adjustments	5,170		5,170


Other comprehensive income (loss)	5,170		5,170
Balance at May 4, 2025	$	(16,423)	$	(16,423)


	For the Thirteen Weeks Ended 1
Comparable brand revenue growth	May 3, 2026		May 4, 2025
Pottery Barn	1.0	%	2.0	%
West Elm	8.5		0.2
Williams Sonoma 2	5.0		7.3
Pottery Barn Kids and Teen	4.5		3.8

Total 3	4.8	%	3.4	%

1 Comparable brand revenue includes business-to-business revenues within each brand.
2 Includes results from Williams Sonoma Home.
3 Total comparable brand revenue growth includes the results of Rejuvenation, Mark and Graham, and GreenRow.


	Store Count					Average Leased Square Footage Per Store
	February 1, 2026	Openings	Closings	May 3, 2026	May 4, 2025	May 3, 2026	May 4, 2025
Pottery Barn	181	2	(3)	180	180	14,900	14,900
Williams Sonoma	152	1	—	153	154	6,800	6,900
West Elm	116	1	(1)	116	119	13,400	13,300
Pottery Barn Kids	44	—	(1)	43	44	8,000	7,800
Rejuvenation	13	—	—	13	11	8,000	8,100
GreenRow	—	1	—	1	—	5,500	—
Total	506	5	(5)	506	508	11,300	11,300
Store selling square footage at period-end						3,734,000	3,751,000
Store leased square footage at period-end						5,728,000	5,761,000


	As of
(In thousands)	May 3, 2026		February 1, 2026		May 4, 2025
U.S.	$	2,482,635	$	2,448,273	$	2,289,438
International	53,399		57,552		68,021
Total	$	2,536,034	$	2,505,825	$	2,357,459


Fiscal Period	Total Number of Shares Purchased 1	Average Price Paid Per Share		Total Number of Shares Purchased as Part of a Publicly Announced Program 1	Approximate Dollar Value of Shares That May Yet Be Purchased Under the Program
February 2, 2026 - March 1, 2026	—	$	—	—	$	338,561,000
March 2, 2026 - March 29, 2026	949,332	$	179.00	949,332	$	168,635,000
March 30, 2026 - May 3, 2026	658,921	$	178.90	658,921	$	50,756,000
Total	1,608,253	$	178.96	1,608,253	$	50,756,000


Exhibit Number						Exhibit Description


31.1*						Certification of Chief Executive Officer, pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act, as amended

31.2*						Certification of Chief Financial Officer, pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act, as amended

32.1*						Certification of Chief Executive Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2*						Certification of Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101*						The following financial statements from the Company’s Quarterly Report on Form 10-Q for the quarter ended May 3, 2026, formatted in Inline XBRL: (i) Condensed Consolidated Statements of Earnings, (ii) Condensed Consolidated Statements of Comprehensive Income, (iii) Condensed Consolidated Balance Sheets, (iv) Condensed Consolidated Statements of Stockholders’ Equity, (v) Condensed Consolidated Statements of Cash Flows and (vi) Notes to Condensed Consolidated Financial Statements, tagged as blocks of text and including detailed tags

104*						Cover Page Interactive Data File (formatted as Inline XBRL and contained in the Interactive Data Files submitted under Exhibit 101)


WILLIAMS-SONOMA, INC.

By:						/s/ Jeffrey E. Howie
						Jeffrey E. Howie
						Executive Vice President and Chief Financial Officer
						(Principal Financial Officer)


By:						/s/ Jeremy Brooks
						Jeremy Brooks
						Senior Vice President and Chief Accounting Officer
						(Principal Accounting Officer)

SEC Form 10-Q filed by Williams-Sonoma Inc.