San Francisco-based home products cataloger/retailer Williams-Sonoma (NYSE:WSM), whose titles include Hold Everything, Pottery Barn, and West Elm, increased both fourth quarter and annual revenue while building its bottom line. Both the quarter and the year ended Jan. 30
Net revenues for the fourth quarter increased 8% to $1.084 billion compared with $1.004 billion last year. Net earnings increased 11% to $113.3 million, compared with $102.1 million last year.
Fourth quarter direct-to-customer net sales increased 7% to $344.9 million from $322.2 million last year. The company says that all of the direct-to-customer brands posted “positive growth” during the quarter. Internet sales increased 26% to $152.6 million, compared with $120.9 million last year. Retail net sales increased 9% to $680.3 million, compared $625.1 million last year, driven by 40 net new stores. Fourth quarter comparable store sales increased 2%.
Net revenue for fiscal year 2004 increased 14% to $3.137 billion compared with $2.754 billion last year. Net earnings for fiscal year 2004 increased 15% to $180.1 million, compared with $157.2 million last year.
Direct-to-customer net sales for the fiscal year increased 17.5% to $1.135 billion compared with $966.4 million last year. With the exception of bedding catalog Chambers, which was folded in the second quarter, all of the brands in the direct-to-customer channel delivered positive growth during the fiscal year brand in the third quarter of 2004. Internet sales increased 43% to $477.5 million, compared with $332.9 million last year.
Retail net sales increased 12% to $1.803 billion, compared with $1.615 billion last year, driven by 40 net new stores. Comparable store sales increased 4%.