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Williams-Sonoma's Q3 results show a healthy balance sheet, strong cash flow, and attractive dividend distribution. The company's focus on cash flow and capital returns supports annual dividend increases and sustainable share repurchases. With a billion-dollar increase to the repurchase authorization, the allotment is now over $1.6 billion, sufficient for six quarters. Tailwinds may develop in 2026 as interest rates decrease, benefiting the business.

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