SAN FRANCISCO — Williams-Sonoma closed its second quarter on Aug. 1 with revenues up almost 31% and internet revenue up almost 83%.
“We’re proud to report one other quarter of outperformance with a 30% comp, robust progress throughout all manufacturers and channels, and 360 foundation factors of working margin enlargement,” stated Laura Alber, president and CEO. “These second quarter outcomes reveal the success of our progress methods and the earnings energy of our firm. We have now a bonus within the business because of our unique in-house design functionality, our channel technique which is digital-first however not digital solely, and our values – with sustainability and fairness underlying all that we do.”
Revenues for the interval reached $1.95 billion, up from $1.49 billion within the 2020 interval. Internet revenue elevated from $134.6 million final yr to $246.1 million this yr, with earnings per share at $3.21 in contrast with $1.70 within the year-ago interval.
Alber famous that the corporate is elevating its full yr income outlook, with progress anticipated to be within the excessive teenagers to low twenties and working margins anticipated within the 16% to 17% vary.
“Given our elevated optimism, we now count on to attain our long-term purpose of $10 billion in revenues in 2024, one yr quicker than beforehand anticipated, and with greater profitability, which can now be at or above our elevated FY21 working margin,” she stated.