SAN FRANCISCO-Despite e-commerce growth that contrasts with declining comp-store sales, Williams-Sonoma remains committed to a “cautious” store opening schedule, executives said at its first-quarter conference call.
The company will open a total of 51 new units this year across nearly all its brands, while closing 24 stores. No new Williams-Sonoma Home stores will be opened this year. The openings come even as comp-store sales declined 9%. Net revenues decreased 4.2% to $781.8 million. However, e-commerce sales have risen 8.7%, attributed to the natural growth of e-commerce and shoppers migrating from phone sales, not from stores.
“We’re continuing to monitor very closely what happens with customers who come from the web and migrate to retail stores, and retail customers who might migrate to the web,” said Howard Lester, chairman and CEO. “We’ve seen very little shift to the extent that it would affect our ability to pen retail stores. At this time, I don’t see any material change in our long-term strategy.”
Williams-Sonoma operates 603 stores under the Williams-Sonoma, Pottery Barn, Pottery Barn Kids, PBteen, West Elm and Williams-Sonoma Home banners.