Page 1

WILLIAMS SONOMA , INC Exhibit 99.1 Williams - Sonoma , Inc. announces strong first quarter results Q1 comparable brand revenue growth accelerates to 40.4 % Q1 GAAP operating margin of 15.7 % ; Q1 non - GAAP operating margin expansion of 950bps to 15.9 % Q1 GAAP diluted EPS of $ 2.90 ; Q1 Non - GAAP diluted EPS of $ 2.93 Raises full - year 2021 outlook San Francisco , CA , May 26 , 2021 - Williams - Sonoma , Inc. ( NYSE : WSM ) , the world's largest digital - first , design - led and sustainable home retailer , today announced operating results for the first fiscal quarter ended May 2 , 2021 ( " Q1 21 " ) versus the first fiscal quarter ended May 3 , 2020 ( " Q1 20 " ) . " We are proud to report another record quarter of accelerating revenue and profitability with over 40 % comp growth and a 950bps expansion in our non - GAAP operating margin . These results were driven by strength across all of our brands . We are seeing strength in our core businesses and our new growth initiatives have outperformed . As re - openings accelerate across the country , a record number of customers continue to shop with us as they invest in their homes . We are honored to be our customers ' destination for their entertaining and home furnishings needs as they welcome friends and family back , ” said Laura Alber , President and Chief Executive Officer . " As a result , we are raising our full year outlook from mid - to - high single digit revenue growth to low - double digit to mid - teen revenue growth and year - over - year operating margin expansion . We believe our business is uniquely positioned to gain market share given our growth strategies and our three key differentiators : 1. Our in - house design ; 2. Our digital - first channel strategy ; and 3. Our values . These differentiators are more relevant than ever with our customers and set us apart from our competition , " Alber continued . Alber concluded , “ As we look ahead , we are confident in our runway for growth and profitability . The goals we have set are driving incremental growth faster than anticipated , our brand differentiators continue to accelerate , and favorable macro trends should continue to benefit our business for the long - term . We are the only home furnishings retailer that's able to serve customers at scale online and provide the experience and convenience of physical retail with exclusive sustainable products - giving us the unique advantage to gain share for many years to come . " FIRST QUARTER 2021 • • • Comparable brand revenue growth accelerates to 40.4 % , with all brands accelerating sequentially including West Elm at 50.9 % , Pottery Barn at 41.3 % , Williams Sonoma at 35.3 % and Pottery Barn Kids and Teen at 27.6 % GAAP gross margin of 43.0 % ; non - GAAP gross margin of 43.0 % , expanding 850bps and driven by higher year - over - year merchandise margins and occupancy leverage of approximately 410bps ; occupancy costs were approximately $ 176 million , relatively flat to last year GAAP SG & A rate of 27.3 % ; non - GAAP SG & A rate of 27.1 % , leveraging approximately 100bps and reflecting the strength of our topline performance and ongoing financial discipline GAAP operating margin of 15.7 % ; non - GAAP operating margin of 15.9 % , leveraging approximately 950bps GAAP diluted EPS of $ 2.90 ; non - GAAP diluted EPS of $ 2.93 , or 296 % higher than last year Maintaining strong liquidity position of $ 640 million in cash and over $ 238 million in operating cash flow , enabling the company to repay its $ 300 million term loan in full , let its 364 - day $ 200 million line of credit facility expire , and repurchase approximately $ 315 million in shares 1