Jeffrey Howie on trade policy
From $WSM Williams Sonoma Q3 2025 Earnings Conference Call · · EARNMOAR
“Our updated guidance reflects all the tariffs in place as of this call. This includes the new section 232 tariffs on furniture, the revised 20% additional China tariffs, the 50% India tariff, the 20% Vietnam tariff, and an average 18% tariff on the rest of the world, as well as the 50% steel and aluminum tariffs and the 50% copper tariff.”
On , Jeffrey Howie, Executive VP & CFO at Williams-Sonoma, spoke about trade policy during $WSM Williams Sonoma Q3 2025 Earnings Conference Call on EARNMOAR.
About Jeffrey Howie
On Williams-Sonoma's third quarter fiscal 2025 earnings call, Jeffrey Howie reported net revenue of $1.88 billion, representing a positive 4% comp. He stated that the impact from tariffs is taking longer than anticipated to flow through to gross margin, citing delayed effective dates and the company's frontloading of inventory. Howie noted that the company ended the quarter with $885 million in cash and no outstanding debt, generated $316 million in operating cash flow, and returned $347 million to shareholders. He also announced that the board approved an additional $1 billion share repurchase authorization. Howie said the company is raising its full-year operating margin guidance by 40 basis points to a range of 17.8% to 18.1%. He described the updated guidance as reflecting all tariffs in place as of the call, including those on furniture, China, India, Vietnam, and other regions. He added that the company is reiterating its long-term guidance of mid-to-high single-digit revenue growth with operating margins in the mid-to-high teens.