Williams-Sonoma, a US-based specialty retailer of high-quality products for home, reported its first quarter (Q1) FY20 sales to $1,235.2 million compared to $1,241.1 million in same period prior year. Net earnings for Q1 FY20 ended on May 3, 2020 were $35.4 million (Q1 FY19: $52.6 million). E-commerce sales jumped 30 per cent during the reported quarter.
Williams-Sonoma, a US-based specialty retailer of high-quality products for home, reported its first quarter (Q1) FY20 sales to $1,235.2 million compared to $1,241.1 million in same period prior year. Net earnings for Q1 FY20 ended on May 3, 2020 were $35.4 million (Q1 FY19: $52.6 million). E-commerce sales jumped 30 per cent during the reported quarter.#
“In this highly disrupted environment, we are proud to deliver 2.6 per cent comp growth in the first quarter, despite having all of our 616 stores closed for more than half of the quarter. Our large e-commerce business had breakout comp growth in the second half of the quarter and continues to accelerate,” Laura Alber, president and chief executive officer at Williams-Sonoma, said in a press release.
Williams-Sonoma, a US-based specialty retailer of high-quality products for home, reported its first quarter (Q1) FY20 sales to $1,235.2 million compared to $1,241.1 million in same period prior year. Net earnings for Q1 FY20 ended on May 3, 2020 were $35.4 million (Q1 FY19: $52.6 million). E-commerce sales jumped 30 per cent during the reported quarter.#
Gross profit for Q1 FY20 were $414.2 million ($444.3 million). Selling, general and administrative expenses for the quarter were $365.6 million ($370.1 million). Company reported operating income decline to $48.6 million ($74.1 million).
Williams-Sonoma, a US-based specialty retailer of high-quality products for home, reported its first quarter (Q1) FY20 sales to $1,235.2 million compared to $1,241.1 million in same period prior year. Net earnings for Q1 FY20 ended on May 3, 2020 were $35.4 million (Q1 FY19: $52.6 million). E-commerce sales jumped 30 per cent during the reported quarter.#
Sales of Pottery Barn sales during Q1 FY20 were down 1.1 per cent to $480 million ($492 million). West Elm sales grew 3.3 per cent to $315 million ($309 million). Williams Sonoma segment sales increased 5.4 per cent to $199 million ($195 million). While, Pottery Barn Kids and Teen sales rose 8.5 per cent to $189 million $177 million.
Williams-Sonoma, a US-based specialty retailer of high-quality products for home, reported its first quarter (Q1) FY20 sales to $1,235.2 million compared to $1,241.1 million in same period prior year. Net earnings for Q1 FY20 ended on May 3, 2020 were $35.4 million (Q1 FY19: $52.6 million). E-commerce sales jumped 30 per cent during the reported quarter.#
“Reflecting on the longer term, this crisis has accelerated our industry’s shift to e-commerce, and given rise to a newfound appreciation for the home. We believe that with our differentiated value proposition of sustainable, design-led products and a powerful digital first platform, we are well positioned,” Alber said.
Fibre2Fashion News Desk (JL)
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