Williams-Sonoma to expand new businesses
February 27, 2002,
San Francisco — Though Williams-Sonoma will play it conservatively this year, it still plans to drive top-line sales growth, improve operating efficiencies and operating margins and enhance shareholder value, Dale Hilbert, ceo, told analysts in a conference call. Several new businesses that have performed well will also expand, including the store base of Pottery Barn Kids and the company's direct-to-customer channel.
Williams-Sonoma plans to open 50 new stores this year, including 25 new Pottery Barn Kids locations — a 93 percent increase over PBK's present total of 27 stores — 15 Williams-Sonomas, 11 Pottery Barns, and two clearance locations. Also included in the new store count are three additional locations in Toronto, Canada, a market it broke into last year.
In addition, Hilbert added, it will expand the merchandise assortment to support the growing seasonal gift businesses, since the customer response to testing this concept has "consistently exceeded expectations."
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