Williams-Sonoma Q4 Earnings Call Highlights

Howie said gross margin was 46.9%, down 40 basis points year over year, primarily due to a 170-basis-point decline in merchandise margins as higher tariffs flowed through cost of goods sold, along with occupancy deleverage tied largely to the prior-year 53rd week. He noted shrink contributed a 160-basis-point benefit from favorable physical inventory results, and supply chain efficiencies added 50 basis points. SG&A was 26.6% of revenue, up 80 basis points, which Howie attributed mainly to lapping an indire ...