Thursday, May 25, 2017

Williams-Sonoma tops estimates

Williams-Sonoma Inc. on Wednesday reported better-than-expected quarterly results, fueled by a strong performance at its millennial-targeted West Elm division. 
 
Net revenues increased 1.2% to $1.112 billion, from $1.098 billion in the year-ago period. E-commerce net revenues increased 0.7% to $581 million. Online sales generated 52.2% of total company net revenues in the quarter, compared to 52.5% of total net revenues last year. 
 
Same-store sales inched up 0.1%. By brand, same-store sales rose 3.2% at Williams-Sonoma and 6% at West Elm. Comp sales fell 1.4% at Pottery Barn, 5.7% at Pottery Barn Kids and 14.3% at PB Teen.
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