Sonoma boosts profits in 3Q
November 26, 2001,
In spite of the tough retail climate, Williams Sonoma Inc. delivered a positive third quarter in terms of financial results.
Revenues increased by nearly 9 percent in the quarter, to $462.1 million. Within that figure, the retailer posted retail sales of $257.6 million, up more than 15 percent over last year's third quarter. The company managed that impressive growth despite posting a same-store sales decline of 1.1 percent for the quarter.
Dale Hilpert, ceo, credited a rebound in Pottery Barn's sales for the positive overall sales picture. Pottery Barn reported a same-store sales increase of 2.6 percent in October, its best monthly total of the year, according to Hilpert.
Williams-Sonoma was also successful in monitoring expenses. Its SG&A expenses as a percentage of revenues decreased by 130 basis points, to 34.2 percent. This offset a 140-basis-point decline in the company's average gross margin, which finished the quarter at 35.9 percent.
|QTR 10/28 (X000)||2001||2000||% CHG|
|Oper. income (EBIT)||7,998||7,324||9.2|
|Per share (diluted)||0.07||0.04||75.0|
|Average gross margin||35.9%||37.3%||—|
|Oper. income (EBIT)||14,143||27,084||-47.8|
|Per share (diluted)||0.10||0.21||-52.4|
|Average gross margin||35.1%||36.6%||—|
Related Content By Author
1200 Suppliers are Ready for You at Intertextile Shanghai
Home & Textiles Today eDaily
Most Viewed Articles
See the August 2017 issue of Home & Textiles Today. In this issue, we look at the Top 50 Retailing Giants Report, plus Manufacturing: Made in the USA gaining ground; International: Portugal ramping up exports; New products: NY Now home textiles introductions; Outlook: Commentary from H&TT's editors; and Planning: Trade show calendar.