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From Home Furnishing Business

Williams-Sonoma 3Q Income, Sales Climb

Home furnishings retailer Williams-Sonoma Inc. (NYSE: WSM) reported net income of $64.9 million up from income of $56.7 million for the third quarter ended Nov. 2.

The parent company of Williams-Sonoma, Pottery Barn, West Elm and other lifestyle retail brands posted net sales of $1.14 billion for the quarter up 8.7 percent compared to $1.05 billion in the third quarter last year.

The retailer’s e-commerce net sales increased  14.7 percent in the quarter to $587 million from $512 million in the third quarter of last year.

The company said in-store net sales increased 3.1 percent to $556 million in the quarter and were driven by the West Elm and Pottery Barn brands. 

“These achievements reflect our product leadership, lifestyle merchandising, iconic brands and strong execution,” said Laura Alber, president and CEO. “We also believe that this third quarter further demonstrates that our multi-channel model, with more than 51 percent of revenues now coming from the e-commerce channel, represents a distinct competitive advantage. We continue to focus on serving our customers and investing for sustainable long-term growth.”

The complete earnings release is available online

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