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e-News
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Williams-Sonoma holiday sales increase 7 percent |
01.15.2010
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SAN FRANCISCO-Home goods retailer Williams-Sonoma Inc. reported a 7.4 percent increase in holiday revenue for 2009 versus 2008.
Williams-Sonoma, which operates kitchenware stores under its name as well as the Pottery Barn and West Elm retail banners, saw its sales increase 7.4 percent to $783 million for the eight-week period that ended Dec. 27, 2009, according to a Jan. 14 earnings statement. Comparable store comps, stores that have been open at least a year, averaged a 6.5 percent increase.
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"We are extremely pleased with our holiday performance. Revenues, selling margins, and controllable expenses all exceeded the high end of our expectations, and the actions we had taken to drive our business from both a competitive and financial perspective proved to be highly successful," said Howard Lester, chairman and CEO in a prepared statement.
The operator of the Pottery Barn, West Elm and Williams-Sonoma chains has been helped by its decision to offer more lower-priced home decor items and improved holiday merchandise, driving in more shoppers.
As a result the company is revising its earnings per share estimates and it is increasing its fourth-quarter revenue guidance to a range of $1.060 billion to $1.080 billion.
Not all retailers posted gains this holiday season. According to the Commerce Department, total retail sales-including cars-fell by .3 percent. It was the first decline in three months.
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