WSM — what changed in the latest 10-Q
A section-by-section comparison of WSM's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-28 vs the prior 10-Q · 2026-05-22
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +24 | −17 | ~14 | 15 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~5 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | +3 | −3 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-28
In April 2026, we filed for a refund of the tariffs we paid in fiscal 2025 and fiscal 2026 assessed under International Emergency Economic Powers Act (“IEEPA”) in an aggregate amount of $197.8 million. During the second quarter of fiscal 2026, we applied the loss recovery model and determined that t…
During the second quarter of fiscal 2026, we recorded (i) a reduction of cost of goods sold of $167.8 million related to refunds received for tariffs that have been previously expensed and (ii) related interest income of $6.3 million. This income was partially offset by (i) a provision of $47.5 mill…
As of August 2, 2026, we deferred $29.3 million of the tariff refund income as a reduction of merchandise inventories in our Condensed Consolidated Balance Sheet, which we anticipate recognizing as a reduction to cost of goods sold in the third quarter of fiscal 2026. In the second quarter of fiscal…
Net revenues in the second quarter of fiscal 2026 increased $123.0 million or 6.7%, due to (i) company comparable brand revenue (“company comp”) growth of $109.4 million, or 6.2% and (ii) non-comparable brand revenue growth of $13.6 million. From a channel perspective, the company comp growth of 6.2…
In the second quarter of fiscal 2026, Pottery Barn, our largest brand, drove a comparable brand revenue (“brand comp”) of 5.1% with strength in furniture, textiles and lighting.
Text removed vs the prior filing · source: 10-Q · 2026-05-22
Net revenues in the first quarter of fiscal 2026 increased $75.3 million, or 4.4%, due to (i) company comparable brand revenue (“company comp”) growth of $78.6 million, or 4.8%, partially offset by (ii) a decrease in non-comparable brand revenue of $3.3 million due to lower franchise net revenues an…
In the first quarter of fiscal 2026, Pottery Barn, our largest brand, saw comparable brand revenue (“brand comp”) growth of 1.0% driven by strength in furniture, textiles and lighting.
The Pottery Barn Kids and Teen brands saw brand comp growth of 4.5% in the first quarter of fiscal 2026 driven by strength in furniture and non-furniture categories, collaborations and baby offerings.
West Elm saw brand comp growth of 8.5% in the first quarter of fiscal 2026 driven by strength in retail, new furniture and non-furniture products and collaborations.
The Williams Sonoma brand saw brand comp growth of 5.0% in the first quarter of fiscal 2026 driven by strength in the brand’s kitchen business supported by exclusive products and collaborations.
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-28
Aggregate number of shares of common stock to be purchased or sold pursuant to trading arrangement
1Each trading arrangement marked as a “Rule 10b5-1 Trading Arrangement” is intended to satisfy the affirmative defense of Rule 10b5-1(c), as amended
2The plan provides for the sale of the lesser of (i) 1,100 shares of common stock or (ii) a number of shares sufficient to generate $200,000 in gross proceeds. The actual number of shares to be sold is not currently determinable.
Text removed vs the prior filing · source: 10-Q · 2026-05-22
On May 21, 2026, we announced the departure from the Company of Monica Bhargava, a named executive officer and President of the Pottery Barn brand, effective May 21, 2026. Additionally, we announced that Jennifer Kellor has been named President of Pottery Barn.
In connection with Ms. Bhargava’s separation, the Company entered into a Separation Agreement and General Release with Ms. Bhargava on May 18, 2026 (the “Separation Agreement”). Pursuant to the Separation Agreement and subject to her compliance with certain restrictive covenants, Ms. Bhargava will b…
The foregoing summary of the terms of the Separation Agreement is qualified in its entirety by reference to the complete text of the Separation Agreement, a copy of which will be filed with our Quarterly Report on Form 10-Q for the period ending August 2, 2026.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice