Pottery Barn brands boost Williams-Sonoma revenue, earnings in 2Q

Company reports 15.4% increase in revenue over same period last year

Furniture Today Staff -- Furniture Today, August 19, 2010

SAN FRANCISCO — Strong rebounds in same-store sales at Pottery Barn and Pottery Kids helped retailer Williams-Sonoma to a 15.4% gain in revenue and sharply higher earnings in the second quarter, ended Aug. 3.

The company said same-store sales were up 17.3% at Pottery Barn and 18.9% at Pottery Barn Kids, reversing declines in the two concepts last year of 15.9% and 22.3% respectively.

Earnings for the quarter came to $30.8 million or 28 cents per share, up from just $399,000 or zero cents per share a year earlier. Excluding one-time charges, EPS in the latest quarter was 31 cents, up from 5 cents last year.

"We are pleased with the performance we are seeing across our brands," said Williams-Sonoma President and CEO Laura Alber. She said that despite continued uncertainty in the economy, the retailer sees "a significant opportunity ahead of us to attract new customers to our brands, gain market share and improve profitability, even in this environment."

For the first half, revenues were up 16.3% to $1.5 billion. Same-store sales gains by retail concept were 9.4% at Williams-Sonoma stores, 20.1% at Pottery Barn, 20.8% at Pottery Barn Kids and 2.9% at outlets.