1Q revenue up 10.2% for Williams-Sonoma

Net revenue for San Francisco-based Williams-Sonoma (NYSE: WSM) increased 10.2%, to $794.3 million, for the first quarter ended April 30. That figure is up from $720.7 million after the first quarter last year.

Net revenue for the multititle home goods cataloger/retailer increased 7% to $775.9 million. Direct-to-customer net sales (catalog/Internet) increased 11.4%, to $360.4 million, compared to $323.5 million in the first quarter of 2005. A company statement attributed the increase in direct sales to net revenue generated in the Pottery Barn, Pottery Barn Kids, West Elm, and Williams-Sonoma brands. First-quarter Internet revenues increased 31%, to $201 million, up from $153.5 million last year.

Retail net sales for the period increased 9.2%, to 433.9 million, compared with $397.2 million last year. Comparable store sales were flat from last year. CEO Ed Mueller said in a statement: “We are very pleased to deliver to our shareholders another consecutive quarter of strong financial results. During the quarter, we expanded our retail presence in the West Elm and Williams-Sonoma Home brands and continued to make significant progress on our 2006 supply chain initiatives, including the refinement of our daily store replenishment program and the in-sourcing of our East Coast furniture hub operations.”

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