Williams-Sonoma, Inc. has announced operating results for the fourth quarter of fiscal 2013 and fiscal year ended February 2, 2014. In Q4 2013, the company reported net revenues of $146 billion as compared with $1.406 billion in the same quarter 2012 with comparable brand revenue growth of 10.4%. Net revenues for the year increased to $4.388 billion from $4.043 billion in the 2012 fiscal year.
“Williams-Sonoma, Inc. outperformed the retail industry this holiday season, gaining market share and demonstrating the structural advantage of our multi-brand, multi-channel platform,” Laura Alber, president and CEO, said. “The strength of our brands across retail and e-commerce, in conjunction with disciplined execution, enabled our team to drive record operating results.”
The fourth quarter for 2013 included 13 weeks versus 14 weeks in the fourth quarter of fiscal 2012, ended February 3, 2013. FY 13 included 52 weeks versus 53 weeks in the fiscal year ended February 3, 2013. In Q4 12 and FY 12, the additional week contributed approximately $70 million in net revenues and an estimated $0.07 benefit to diluted earnings per share (EPS).
Alber contributed the growth the company’s focus on investing in its brands and supporting infrastructure in an effort to provide a differentiated experience for its customers.
“These results confirm that our key strategies are working, and position us well for 2014 and beyond,” Alber said. “In all of our brands we develop product that is inspiring, relevant, high quality and competitively priced. We believe that our lifestyle merchandising approach, together with our high-touch service model, separates us from commoditized offerings.”
Alber noted that Williams-Sonoma’s e-commerce business represented 44% of net revenues in fiscal 2013, and is growing rapidly.