Strength in the West Elm and Williams Sonoma retail brands were cited as key drivers of first quarter sales growth at Williams Sonoma, Inc.
For the period ended May 1, company-wide net revenue grew 1.2% to $1.112 billion. Quarterly net earnings were $39.6 million, which was flat when compared to the first quarter of fiscal 2016. E-commerce sales accounted for 52.2% of total new revenue in the first quarter.
Company-wide comparable store sales were flat with growth at Williams Sonoma and West Elm stores offsetting declines in comp sales at Pottery Barn, Pottery Barn Kids and PBteen.
“In the first quarter, we saw strong sequential improvement in the Pottery Barn brand, demonstrating the effectiveness of the brand initiatives that we are implementing,” said Laura Alber, president and CEO, Williams Sonoma. “West Elm, our newer businesses (Rejuvenation and Mark and Graham), and our company-owned global operations delivered another quarter of double-digit growth, and Williams Sonoma started the year off strongly.”
