Financial Report: Williams-Sonoma Net Up 70%, Catalog Sales Flat

San Francisco—Kitchen and home cataloger/retailer Williams-Sonoma (NYSE:WSM), which also mails the Pottery Barn, Hold Everything, and Chambers catalogs, posted a 70% in net earnings for its quarter ended Oct. 28 to $3.9 million, compared to $2.3 million last year. Net revenues grew 9%, to $462.1 million, compared $424.6 million last year.

Direct-to-consumer sales, which include catalogs, were flat, rising just 0.8%, to $176.2 million. Williams-Sonoma says Direct-to-consumer sales were negatively impacted by the events of Sept. 11th. Growth in the Pottery Barn Kids brand drove the third quarter increase, but was offset by decreases in the other titles. Sales in the Williams-Sonoma brand, however, versus third quarter last year were at least flat.

Retail sales increased 15%, to $257.6 million, primarily because of new store openings, as comparable store sales decreased 1%. Williams-Sonoma had 412 stores during the quarter, compared to 370 stores last year.

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