SAN FRANCISCO-Despite weakness in its sector, Williams-Sonoma posted positive same-store sales, executives said during a third-quarter conference call. Overall comp-store sales rose 1.1%, with Pottery Barn Kids leading the company’s formats with a 4.5% increase.

Both Williams-Sonoma and Pottery Barn stores posted 0.3% comp-store increases. Outlets saw a 2% rise. In fact, they noted, comps might have been even stronger, but Internet and catalog sales might have siphoned off in-store purchases.

“The comps are a little deceiving,” said Howard Lester, chairman and CEO. “We’re probably seeing a small shift that takes place each year from [in-store] retailing to the Internet.”

That trend could continue, especially in the fourth quarter, as holiday shoppers are drawn to the convenience of Web shopping, he added. Traffic has been slow thus far in November.

Net revenues for the third quarter were $895.1 million, up 5% compared with the same period last year. Net earnings were $27.1 million, down from $29.1 million for the same quarter a year ago.

Williams-Sonoma operates 597 stores, seven catalogs and six e-commerce sites under the names Williams-Sonoma, Pottery Barn, Pottery Barn Kids, PBteen, West Elm and Williams-Sonoma Home.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.