From Home Furnishing Business
Williams-Sonoma 3Q Income at $70.5 Million
Williams-Sonoma Inc. (NYSE: WSM) reported third quarter net income of $70.5 million for the period ended Nov. 1 compared to net income of $64.9 million in the same quarter last year.
Net revenue for the quarter hit $1.23 billion a 7.8 percent increase over third quarter net sales of $1.14 billion last year.
“We are pleased with our solid third quarter results, which speak to the power of our brands and our ability to execute our customer-focused strategy,” said Laura Alber, president and CEO. “ …Looking ahead, while the retail landscape and consumer demand has been more volatile, we believe our balanced portfolio of differentiated brands and strong multi-channel platform positions us for ongoing market share gains. Our focus remains on executing our strategic initiatives to drive long-term sustainable growth for our shareholders.”
The retailer’s e-commerce sales climbed 7 percent to $628 million this quarter from $587 million in the third quarter of last year. Online sales accounted for 51 percent of the company’s total sales in both the third quarter of this year and in 2014.
The complete earnings release is available online.