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WILLIAMS SONOMA , INC Exhibit 99.1 Williams - Sonoma , Inc. announces record second quarter results Q2 revenues grow 30.7 % with comparable brand revenue growth of 29.8 % , 2YR comp of 40.3 % Q2 GAAP operating margin of 16.6 % ; Q2 Non - GAAP operating margin expansion of 360bps to 16.7 % Q2 GAAP diluted EPS of $ 3.21 ; Q2 Non - GAAP diluted EPS of $ 3.24 , increasing 80 % Quarterly dividend increase of 20 % ; new stock repurchase authorization of $ 1.25 billion Raises full - year 2021 and long - term outlook San Francisco , CA , August 25 , 2021 - Williams - Sonoma , Inc. ( NYSE : WSM ) , the world's largest digital - first , design - led and sustainable home retailer , today announced operating results for the second fiscal quarter ended August 1 , 2021 ( “ Q2 21 " ) versus the second fiscal quarter ended August 2 , 2020 ( “ Q2 20 ” ) . " We are proud to report another quarter of outperformance with a 30 % comp , strong growth across all brands and channels , and 360 basis points of operating margin expansion . These second quarter results demonstrate the success of our growth strategies and the earnings power of our company . We have an advantage in the industry due to our exclusive in - house design capability , our channel strategy which is digital - first but not digital only , and our values - with sustainability and equity underlying all that we do . " said Laura Alber , President and Chief Executive Officer . " The momentum we are seeing in our business and our winning positioning set us up to continue to take share in a fractured market . We do not see any evidence that growth trends are waning , and in fact , we see favorability in the macro environment as more people prioritize their homes and home décor . We believe we are at the intersection of a transformative change that will accelerate the growth of our industry , and our market share within the industry . In addition , our growth strategies are gaining traction faster than we predicted , and our key differentiators are further distancing us from our competition . " Alber continued . Alber concluded , " We see a clear path to beating our previous revenue and profitability targets and we are raising our full year revenue outlook again , with revenue growth now expected to be in the high teens to low twenties and operating margins now expected to be in the range of 16 % to 17 % . Given our increased optimism , we now expect to achieve our long - term goal of $ 10 billion in revenues in 2024 , one year faster than previously expected , and with higher profitability , which will now be at or above our increased FY21 operating margin . " SECOND QUARTER 2021 • • Revenues grow 30.7 % , with strong growth across all brands and channels , including ecommerce holding at 65 % of total company revenues Comparable brand revenue growth of 29.8 % , including West Elm at 51.1 % , Pottery Barn at 29.6 % , Pottery Barn Kids and Teen at 18.0 % , and Williams Sonoma at 6.4 % on top of a 29.4 % last year Ecommerce and retail comparable brand revenue growth on a two - year basis were 58.0 % and 56.5 % , respectively GAAP and non - GAAP gross margin of 44.1 % , expanding 710bps and driven by higher year - over - year merchandise margins as well as occupancy leverage of approximately 210bps ; occupancy costs were $ 176 million • GAAP operating margin of 16.6 % ; non - GAAP operating margin of 16.7 % , leveraging approximately 360bps • GAAP diluted EPS of $ 3.21 ; non - GAAP diluted EPS of $ 3.24 , increasing 80 % over last year Maintaining strong liquidity position of $ 655 million in cash and over $ 475 million in operating cash flow , enabling the company to repurchase an additional $ 135 million in shares in the second quarter and over $ 450 million year - to - date . We also announced in a separate release today , an additional 20 % quarterly dividend increase to $ 0.71 , and a new stock repurchase authorization raising our existing authorization from the approximate $ 500 million remaining to $ 1.25 billion . 1