Financial Reports: Williams-Sonoma, Sharper Image, More

Double-Digit Gains at Williams-Sonoma

Home decor and kitchenware cataloger/retailer Williams-Sonoma (NYSE:WSM) enjoyed a 17% rise in second-quarter direct sales. Catalog and Internet sales totaled $206.3 million for the quarter, compared with $177.1 million for the second quarter of last year. The Pottery Barn, Pottery Barn Kids, Williams-Sonoma, and Hold Everything brands generated most of the increase, with newer catalogs Pottery Barn Teen and West Elm bringing in incremental sales. Its upscale linens catalog, Chambers, saw year-over-year decline, however, due to increased prospecting and lower productivity. Internet sales increased 55%, to $69.3 million from $44.7 million last year.

Total net revenue for the quarter increased 17% , to $580.4 million from $495.6 million a year ago. And the San Francisco-based company’s net income increased 26%, to $17.8 million from $14.1 million.

Sharper Image Posts 2Q Profit At San Francisco-based gadgets cataloger/retailer Sharper Image (Nasdaq:SHRP), second-quarter revenue increased 25%, to $127.9 million for the three months ended July 31. Catalog sales rose 11%, to $32.2 million from last year’s $29.0 million. Internet sales increased 50%, to $18.3 million from $12.2 million. Store sales increased 27%, to $74.2 million, while comparable store sales increased 15%. All this sales growth helped the company turn around last year’s second-quarter loss of $617,000; Sharper Image posted net earnings of $807,000.

Bank Continues to Roll Hampstead, MD-based Jos. A. Bank (NasdaqNM: JOSB) continues to shine. The men’s apparel marketer’s second-quarter catalog and Internet sales increased 120%. For the three months ended Aug. 2, retail and direct net sales were $64.4 million, up 24% from $51.9 million for the second quarter in 2002. Comparable store sales increased 13%. More impressive, net income more than doubled, to $2.0 million from $942,000 a year ago.

Sales Jump Helps Restoration Hardware Reduce Loss Second-quarter direct sales at home decor cataloger/retailer Restoration Hardware (Nasdaq:RSTO) soared 46%. Total net sales rose 13%, with a 10% rise in comparable store sales. And the company cut its net loss 27%. For the three months ended Aug. 2, the Corte Madera, CA-based company lost $2.8 million on net sales of $96.0 million. Catalog and Internet sales totaled $14.1 million. For the second quarter of last year, Restoration Hardware had lost $3.8 million on sales of $85.0 million.

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