Kitchen/home goods merchant Williams-Sonoma recorded a solid performance during its fiscal second quarter.
|O+F Operations and Fulfillment|
For the quarter ended July 29, 2012, Williams-Sonoma’s direct-to-customer net sales rose 12.6%, to $414 million, up from $368 million for the same period last year. This growth was led by Pottery Barn and West Elm, as well as incremental net revenue from Rejuvenation. Online net sales jumped nearly 14%, to $361 million, up from $317 million. Direct-to-customer net sales accounted for 47% of the company’s total net revenue for the quarter.
Retail net sales increased 3%, to $460 million, primarily driven by Pottery Barn and West Elm, and partially offset by a decrease in Williams-Sonoma. Total net sales for the second quarter increased 7.3%, to $874 million.
Williams-Sonoma announced plans to open its first four company-operated stores outside of North America in Sydney, Australia. These stores are slated to open in early fiscal 2013.
Abe Garver, principal at Focus Investment Banking, said Williams-Sonoma and its Pottery Barn brand are “nicely positioned” for the holiday season.