Restoration's textiles business grows
Home & Textiles Today Staff -- Home Textiles Today, May 28, 2004
SAN FRANCISCO — Restoration Hardware boasted strong gains during the first quarter in its textiles business, which jumped to 20 percent of the total business from just 4 percent last year.
This feat was one of many Restoration Hardware said it achieved during the past three months since implementing its restructuring strategy last year to better merchandise stores, increase traffic and improve profitability, the company reported during its recent earnings call.
Other reported first quarter gains for Restoration Hardware include: more than doubling its bathware business; an improvement of its average-store sales volume from $3.1 million per store in 2001 to a trending $3.7 million per store this year; increased direct product sourcing to over 60 percent of the company's business this year from 15 percent; and strong growth in its direct businesses, catalog and Internet, which rang in at $12.4 million and $9.4 million, respectively, in revenues.
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