Williams-Sonoma Earnings Rise

Share this content:
Williams-Sonoma Inc.'s net earnings in the 13 weeks ended Nov. 3 totaled $15.1 million, up from $3.9 million in the 13 weeks ended Oct. 28, 2001, the San Francisco company said yesterday.

Net revenue, including shipping fees, rose 14.2 percent to $527.9 million in the third quarter from $462.1 million in last year's third quarter. Net retail sales jumped 18.8 percent to $306.1 million compared with $257.6 million.

The company operated 477 stores as of Nov. 3, compared with 412 on Oct. 28, 2001. Comparable-store sales increased 2.8 percent in the third quarter compared with a drop of 1.1 percent in the third quarter last year.

Direct-to-customer net sales rose 6.5 percent to $187.7 million in the quarter from $176.2 million in third-quarter 2001. The increase "was primarily driven by growth in the Pottery Barn, Williams-Sonoma and Pottery Barn Kids brands and incremental sales from the West Elm catalog launched in the first quarter of 2002," the company said.

The company began a private-label credit card program in the quarter in the retail and direct-to-customer channels of the Pottery Barn and Pottery Barn Kids brands. A third-party credit card provider administers the program, and the company assumes no credit risk.

Year-to-date net earnings in the 39 weeks ended Nov. 3 were $44.6 million, up from $5.7 million in the same period last year. Year-to-date net revenue increased 14.8 percent to $1.5 billion from $1.31 billion, and year-to-date comparable-store sales rose 2.9 percent compared with a drop of 1 percent in the same period a year ago.

In other news, Staples Inc., Framingham, MA, posted net income of $128.02 million in its third quarter ended Nov. 2 compared to $91.31 million during the 13 weeks ended Nov. 3, 2001. Total company sales rose to $3.09 billion, up 9 percent from $2.83 billion in the same quarter a year ago. Overall comparable sales increased 3 percent, and retail-only comparable sales were up more than 1 percent.

Net income for the 39-week period ended Nov. 2 reached $281.44 million compared to $171.17 million in the 39-week period ended Nov. 3, 2001. Sales during the 39-week period ended Nov. 2 amounted to $8.26 billion compared to $7.82 billion in the 39-week period ended Nov. 3, 2001.


Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

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

Relive the 2017 Marketing Hall of Femme

Click the image above