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Williams-Sonoma fiscal Q1 profit climbs 16.3% YOY

Williams-Sonoma, Inc. said its normalized net income for the fiscal first quarter ended May 4 came to 49 cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS rose 21.0% year over year from 40 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $46.5 million, a gain of 16.3% from $40.0 million in the prior-year period.

The normalized profit margin rose to 4.8% from 4.5% in the year-earlier period.

Total revenue increased 9.7% year over year to $974.3 million from $887.8 million, and total operating expenses increased 9.2% on an annual basis to $900.0 million from $824.0 million.

Reported net income increased 15.3% on an annual basis to $45.9 million, or 48 cents per share, from $39.8 million, or 40 cents per share.