Williams-Sonoma Reports Q2 Results

Williams-Sonoma has reported its operating results for the second quarter of fiscal 2010, which ended August 1, 2010. Net revenues for the quarter increased 15.4% to $776 million versus $672 million in the second quarter of fiscal 2009. Comparable store sales increased 13.6% from last year’s second quarter.
Retail net revenues in the second quarter increased 12.4% to $450 million versus $400 million last year. Direct-to-customer net revenues in the second quarter increased 19.8% to $326 million versus $272 million last year. Year-to-date revenues for the 26 weeks ended August 1, 2010, increased 16.3% to $1.49 billion versus $1.28 billion of the same period last year.
Laura Alber, president and CEO, commented, “We are continuing to see a positive consumer response to our merchandising and marketing strategies, including our recently introduced fall assortments, as well as the enhanced customer service programs in all of our brands. As such, we are increasing our full year guidance for the outperformance we saw in the second quarter and for the upside that we are currently seeing in our third quarter trends. In the third quarter, we are now expecting net revenues to increase in the range of 7% to 10%.”