Williams-Sonoma's Q2 Sales, Earnings Up

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Williams-Sonoma said yesterday that sales, including direct-to-consumer results, as well as earnings increased during the second quarter ended July 31.


The San Francisco multichannel retailer pointed to improvements in its in-stock positions on core merchandise and order fulfillment rates as part of the reason for the strong performance.


Williams-Sonoma's net revenues totaled $776.2 million in the second quarter, a 12.6 percent gain over last year. Same-store sales rose 3.7 percent.


Also, direct-to-consumer net revenues increased 11.5 percent for a total of $342.1 million. All of the company's brands delivered positive direct-to-consumer growth during the quarter except for Hold Everything, which experienced a year-over-year reduction in catalog circulation.


Internet revenues during the period increased 32.2 percent for a total of $172.8 million. This figure includes incremental sales from the Nov. 2004 launch of the Hold Everything Web site.


Williams-Sonoma estimates that approximately 40 percent of its non-gift registry Internet revenues are incremental to the direct-to-customer channel and approximately 60 percent are catalog-driven.


For the 26 weeks ended July 31, Williams-Sonoma posted a 12.5 percent gain in net revenues for a total of $1.497 billion. Comparable-store sales rose 4.3 percent during the period.


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