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 development throughout all manufacturers and channels, and 360 foundation factors of working margin growth,” stated Laura Alber, president and CEO. “These second quarter outcomes show the success of our development methods and the earnings energy of our firm. We now have a bonus within the business resulting from 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. Web revenue elevated from $134.6 million final 12 months to $246.1 million this 12 months, 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 12 months income outlook, with development 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 anticipate to attain our long-term purpose of $10 billion in revenues in 2024, one 12 months sooner than beforehand anticipated, and with increased profitability, which is able to now be at or above our elevated FY21 working margin,” she stated.