Williams-Sonoma posts increases for 2Q
August 24, 2017,
SAN FRANCISCO – Williams-Sonoma Inc. reported increases in its 2Q net revenues, net earnings, earnings per share and in most of its comparable brand revenue categories, indicating a reversal in the slow-growth trend in its brands.
Net revenues increased to $1.202 billion, up 3.7% from $1.159 billion reported 2Q last year. Net earnings rose 2% to $52.9 million, from $51.8 million, while earnings per share rose to 61 cents from 58 cents this period last year.
PBteen posted a 0.2% increase in comparable brand revenue over the same period year prior, while West Elm again outperformed its sister brands, with a 10.1% increase.
Laura Alber, president and CEO, said, “In Pottery Barn Kids, while comp revenues declined 3.9%, demand revenue was positive” due to strong back-to-school items, textiles, and furniture collections. “In particular,” she added, “nursery furniture continues to grow double digits.” The company is transitioning all nursery furniture to Greenguard certification.
Alber termed PBteen’s 0.2% increase in comp revenue “a significant turnaround” from its 1Q decline of 14.3% compared with the same period year prior. “Furniture continues to deliver positive results, driven by introductions in our bedroom furniture business and expanded lounge seating options.”
E-commerce net revenues of $630.8 million brought in 52.5% of Williams-Sonoma’s total revenues, an increase from $599.7 million, or 51.7% of total revenues, reported in the second quarter a year ago.
Related Content By Author
Westwood Design finishes draw attention to nursery furniture