From Home Furnishing Business
Williams-Sonoma Revenue Growth up 24.4% in 3rd Quarter
Williams-Sonoma, Inc. (NYSE: WSM) has announced operating results for the third fiscal quarter ended November 1, 2020 versus the third fiscal quarter ended November 3, 2019.
"In the third quarter, sales again outperformed expectations with demand comp up nearly 31% compared to a net comp of 24%, driven by strength across all brands. E-commerce accelerated sequentially to a record net comp of over 49% and we were pleased to see our store performance improve throughout the quarter to a net comp of negative 11%. Even more encouraging is the retail demand comp at negative 4%. And, we delivered these sales more profitably, with operating margins reaching record levels at 15.7%," said Laura Alber, president and CEO.
Alber added, "Our vision is to own the home. And, with our distinctive positioning we will only become more relevant. We have the strategies, the team and the world-class platform to maximize the industry trends that favor our business and successfully execute on our growth opportunities. We are confident that we will continue to drive accelerating sales growth with increasing profitability and evolve into an even more attractive business for our stakeholders during and post pandemic."