Multititle cataloger/retailer Williams-Sonoma (NYSE: WSM) ended 2003 with a 17% rise in net revenue and a 26% increase in net earnings.
For the year ended Feb. 1, the San Francisco-based home decor and kitchenware company netted $157.2 million on sales of $2.75 billion. Catalog and Internet sales rose 21%, to $966.4 million from $798.2 million for fiscal 2002. The Pottery Barn and Pottery Barn Kids brands drove most of the sales increase, with incremental revenue from PBTeen and West Elm. Web sales climbed 66%, to $332.9 million from $200.4 million. Comparable-store sales increased 4%.
Looking ahead, the company confirmed that it will launch the Williams-Sonoma Home catalog during the third quarter. The new book will replace the company’s Chambers catalog of upscale bedding. It also expects to launch an online catalog of its Hold Everything brand in the fourth quarter.