follow us

West Elm, PBteen Steal Spotlight in Williams-Sonoma's Q3

SAN FRANCISCO - All of Williams-Sonoma Inc.'s nameplates delivered comp increases during the third quarter, but West Elm and PBteen led the pack with double-digit gains for each thanks in part to textiles.
     Total comparable brand revenue growth the quarter increased 8.2% on top of 8.5% in the same period last year.
By concept, comp revenue growth increased:
     • 8.4% for Pottery Barn led in part by bedding assortments and outdoor collections;
     • 1.4% for Williams-Sonoma, with particular strength in autumnal and Halloween goods;
     • 3.9% for Pottery Barn Kids, driven by seasonal, decorative accessories, furniture and textiles;
     • 22.2% for West Elm, driven by furniture, textiles, decorative accessories, and lighting;
     • 16.7% for PBteen, led by furniture and textiles.
     Total company net revenues were up 11.3% to $1.05 billion. Net earnings rose 5.4% to $56.7 million, and earnings per share grew 18.4% to $0.58.
     Quarterly direct-to-customer (DTC) revenues increased 14.5% to $512 million, with growth across all brands but primarily driven by Pottery Barn and West Elm, the company noted.
     DTC net revenues generated 49% of total company net revenues in the quarter, compared to 47% in Q3 2012.
Retail net revenues increased 8.5% to $540 million from $497 million, also primarily driven by Pottery Barn and West Elm.
     Year-to-date results included: a 5% rise in net earnings to $145.1 million; a 20.6% increase in earnings per share to $1.46; and an 11% increase in net revenues to $2.9 billion - comprised of a 48.2% increase in DTC net revenues to $1.4 billion and a 51.8% rise in retail net revenues to $1.5 billion.
     Williams-Sonoma Inc. yesterday raised its fiscal year 2013 guidance. The company is now expecting fiscal year revenue to be in the range of $4.290 billion to $4.350 billion and non-GAAP diluted EPS guidance within a range of $2.76 to $2.83.

Featured Video

  • Online Moves From Afterthought To Main Thought For Textiles Suppliers

    Camera Icon More Videos

Other Home Furnishings Sites

Casual Living
Gifts and Decorative Accessories
Home Accents Today
Kids Today
Furniture Today