2Q Earnings Down 73% at Williams-Sonoma

San Francisco–Home decor and housewares cataloger/retailer Williams-Sonoma (NYSE: WSM), which includes the Pottery Barn, Pottery Barn Kids, Hold Everything, and Chambers titles, suffered a 72% plunge in second-quarter net earnings, despite a 17% rise in net revenue. For the three months ended July 30, the company reported earnings of $1.4 million on sales of $429.0 million. For the comparable period of 2000, net earnings were $5.1 million on sales of $366.5 million. The company also warned that third-quarter earnings will fall below Wall Street’s projections. Catalog and Internet sales increased 15%, to $158.3 million, led by the Pottery Barn and Pottery Barn Kids brands. Retail sales rose 18%.