Williams-Sonoma, Inc. (NYSE:WSM) Q1 2022 Results Conference Call May 25, 2022 5:00 PM ET
Company Participants
Jeremy Brooks - Chief Accounting Officer and Head, IR
Laura Alber - President and CEO
Julie Whalen - EVP and CFO
Felix Carbullido - EVP and Chief Marketing Officer
Yasir Anwar - Chief Technology Officer
Conference Call Participants
Seth Basham - Wedbush Securities
Adrienne Yih - Barclays
Chuck Grom - Gordon Haskett
Cristina Fernández - Telsey Advisory Group
Jason Haas - Bank of America
Max Rakhlenko - Cowen and Company
Oliver Wintermantel - Evercore ISI
Peter Benedict - Baird
Simeon Gutman - Morgan Stanley
Jonathan Matuszewski - Jefferies
Steven Zaccone - Citi
Operator
Welcome to the Williams-Sonoma, Inc. Q1 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow at the conclusion of the prepared remarks.
I would now like to turn the call over to Jeremy Brooks, Chief Accounting Officer and Head of Investor Relations. Please go ahead.
Jeremy Brooks
Good afternoon, and thank you for joining our first quarter earnings call.
I'd like to remind you that during this call, we will make forward-looking statements with respect to future events and financial performance, including guidance for fiscal '22 and our long-term outlook. Although we believe these statements reflect our best estimates and all available information, we cannot make any assurances that these statements will materialize and actual results may differ significantly from our expectations. The Company undertakes no obligation to publicly update or revise any of these statements to reflect events or circumstances that may arise after today's call.
Additionally, we will refer to certain non-GAAP financial measures. These measures should not be considered replacements for and should be read together with our GAAP results. A reconciliation of non-GAAP measures to the most directly comparable GAAP measures, along with an explanation of how and why we use these measures, appears in Exhibit 1 to the press release we issued earlier today.
This call should also be considered in conjunction with our periodic and annual filings with the SEC. Finally, the call is being recorded, and a replay will be available on our Investor Relations website.
Now, I'd like to turn the call over to Laura Alber, our President and Chief Executive Officer.
Laura Alber
Thanks, Jeremy. Good afternoon, everyone. We've been looking forward to this release.
The first quarter of fiscal '22 represented another quarter of outperformance, with a 9.5% comp on the topline, with both demand and net sales in line with each other and 19.5% growth on the bottom line to $3.50 per share. These results continue to demonstrate the strength of our multi-brand portfolio and our team's ability to navigate challenges and outperform. These results are even more impressive when considering that we were up against last year's strong performance with a comp of more than 40%.