US retailer Williams-Sonoma's FY20 sales jump 17% to $6.8 bn

Williams-Sonoma, a US-based specialty retailer of high-quality products for home, has reported 17.0 per cent revenue growth to $6.8 billion in its fiscal 2020 that ended on January 31, 2021 compared to revenue of $5.9 billion in the previous fiscal. The company’s net earnings for the year increased to $680.7 million (FY19: $356.0 million).

 

Williams-Sonoma, a US-based specialty retailer of high-quality products for home, has reported 17.0 per cent revenue growth to $6.8 billion in its fiscal 2020 that ended on January 31, 2021 compared to revenue of $5.9 billion in the previous fiscal. The company's net earnings for the year increased to $680.7 million (FY19: $356.0 million).#

“In Q4, despite shipping constraints and low retail traffic, we delivered another quarter of accelerating revenue and profitability with 26 per cent comp growth and over 85 per cent EPS growth. This strong end to the year, combined with our outperformance throughout 2020, drove record fiscal year revenue growth, substantial operating margin expansion and EPS that was almost double that of last year,” Laura Alber, president and chief executive officer, said in a press release.

 

Williams-Sonoma, a US-based specialty retailer of high-quality products for home, has reported 17.0 per cent revenue growth to $6.8 billion in its fiscal 2020 that ended on January 31, 2021 compared to revenue of $5.9 billion in the previous fiscal. The company's net earnings for the year increased to $680.7 million (FY19: $356.0 million).#

Gross profit for FY20 increased to $2.6 billion ($2.1 million), while selling, general and administrative expenses were stagnant at $1.7 billion. The company’s operating income increased to $910.7 million ($465.9 million).

 

Williams-Sonoma, a US-based specialty retailer of high-quality products for home, has reported 17.0 per cent revenue growth to $6.8 billion in its fiscal 2020 that ended on January 31, 2021 compared to revenue of $5.9 billion in the previous fiscal. The company's net earnings for the year increased to $680.7 million (FY19: $356.0 million).#

Sales of Pottery Barn brand increased 15.2 per cent to $2.5 billion ($2.2 billion), and West Elm sales grew 15.2 per cent to $1.7 billion ($1.5 billion). Williams Sonoma brand sales during FY20 were up 23.8 per cent to $1.2 billion ($1.0 billion). Whereas, Pottery Barn Kids and Teen sales rose 16.6 per cent to $1.0 billion ($0.9 billion).

 

Williams-Sonoma, a US-based specialty retailer of high-quality products for home, has reported 17.0 per cent revenue growth to $6.8 billion in its fiscal 2020 that ended on January 31, 2021 compared to revenue of $5.9 billion in the previous fiscal. The company's net earnings for the year increased to $680.7 million (FY19: $356.0 million).#

“Looking ahead, we are very optimistic about our runway for growth and profitability. All of our brands are starting the year strong, and we expect this strength to continue through 2021 and beyond based on a number of factors,” Alber said. 

 

Williams-Sonoma, a US-based specialty retailer of high-quality products for home, has reported 17.0 per cent revenue growth to $6.8 billion in its fiscal 2020 that ended on January 31, 2021 compared to revenue of $5.9 billion in the previous fiscal. The company's net earnings for the year increased to $680.7 million (FY19: $356.0 million).#

“First, it is the ongoing momentum of our growth initiatives and the increasing relevance of our three key differentiators. Second, it is the recovery in our retail traffic and our inventory levels as we move throughout the year. And third, it is the favourable macro trends that are expected to continue to benefit our business for the long-term, including high consumer confidence, a strong housing market, an accelerating shift to e-commerce, the expected continuation of working from home in some capacity post pandemic, and the importance of sustainability and values to the consumer,” Alber concluded in the release.