Williams-Sonoma Earnings Rise 70 Percent

Share this content:
Williams-Sonoma Inc. yesterday reported a 70 percent increase in fiscal third-quarter earnings.


San Francisco-based Williams-Sonoma, which operates stores under its own name along with Pottery Barn, Hold Everything and Chambers, said that net income for the third quarter ended Oct. 28 rose to $3.9 million, or 7 cents per diluted share, from $2.3 million, or 4 cents per share, last year.


Wall Street analysts polled by Thomson Financial/First Call on average expected a profit of 5 cents per share, with estimates ranging from 4 cents to 7 cents. The company lowered its revenue outlook last month to between $460 million and $470 million from a previous range of $478 million to $492 million.


Supported by new stores, the company reported sales of $462.1 million, up 8.8 percent from the $424.6 million posted last year. It had 412 stores at the end of the quarter, up from 370 a year earlier.


Same-store sales fell 1.1 percent for the quarter. Same-store sales increased 2.7 percent in August, dropped 6.1 percent in September and decreased 0.2 percent in October. Pottery Barn retail had the strongest rebound, with October same-store sales up 2.6 percent.


Reduced transportation costs and lower catalog production costs helped offset disruptions in sales resulting from the Sept. 11 terrorist attacks.


Loading links....
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa Data offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here