Williams-Sonoma has double-digit yearly gains
By Furniture Today Staff -- Furniture Today, March 26, 2006
San Francisco — Specialty retailer Williams-Sonoma reported double-digit sales and earnings increases in fiscal 2005, and said same-store sales at its Pottery Barn and Pottery Barn Kids chains rose more than 5%.
The retailer said sales went up 12.8% to $3.5 billion, while net income increased 12.4% to $214.9 million, or $1.81 per share, in the year ended Jan. 29. The 2005 figures include a pretax charge of $13.5 million related to the impending shutdown of its Hold Everything chain.
Sales from stores, which account for about 57% of the total, were up 12.3%. Sales from catalogs and the Internet, which the company calls direct-to-consumer revenues, rose 13.6%.
In the fourth quarter, sales were up 12.1% to $1.2 billion. Net income, including the pretax charge for Hold Everything, was up 6.2% to $120.8 million, or $1.02 per share.
"We believe our 2005 results again highlight what is unique about our company — the strength of our brands, the power of our multi-channel strategy and the competitive advantages we have created with our supply chain network," said Chairman Howard Lester.
The company said same-store sales for the year rose 5.7% at Pottery Barn, 5.2% at Pottery Barn Kids, 2.8% at Williams-Sonoma stores, but declined 10.7% at Hold Everything.
At the end of the fiscal year, the company operated 254 Williams-Sonoma stores, 188 Pottery Barn units, 89 Pottery Barn Kids stores, eight Hold Everything stores, three Williams-Sonoma Home locations, 12 West Elm stores and 16 outlet stores.
| Williams-Sonoma | |||
|---|---|---|---|
| Earnings per share are fully diluted. | |||
| Quarter ended 1/29 | 2006 | 2005 | Change |
| a) Includes an $8.3 million after-tax charge for the restructuring of the Hold Everything brand in both periods. |
|||
| Revenues | $1,214,397,000 | $1,083,639,000 | 12.1% |
| Operating income | 192,830,000 | 184,040,000 | 4.8% |
| Net income | (a) 120,783,000 | 113,748,000 | 6.2% |
| Earnings per share | 1.02 | 0.95 | 7.4% |
| Year ended 1/29 | 2006 | 2005 | Change |
| Revenues | $3,538,947,000 | $3,136,931,000 | 12.8% |
| Operating income | 345,090,000 | 309,969,000 | 11.3% |
| Net income | (a) 214,866,000 | 191,234,000 | 12.4% |
| Earnings per share | 1.81 | 1.60 | 13.1% |
-
Williams-Sonoma sales slide
Jun 8, 2009 -
Pier 1 reports $38.8M profit
Dec 21, 2009
Specialty retailer LoveSac introduces new store design
Kincaid Furniture honors Jimmy and Rosalynn Carter for Habitat work
Belfort Furniture, Lawrance Furniture are NHFA Retailers of Year
Omnia Furniture ends relationship with Kathy Ireland Worldwide
Singapore furniture show expecting increased turnout
Featured Company
-
FurnitureCore.com
FurnitureCore.com is a dynamic web application aimed at the furniture industry. Retailers and manufacturers alike will find our deep reserve of tools to be exactly what their furniture business needs.www.furniturecore.com... more
VIEW ALL GALLERIES
