Williams-Sonoma 4Q revenue up 9.5%

SAN FRANCISCO Williams-Sonoma reported net revenues for the 14-week fourth quarter of fiscal year 2007 increased 9.5% to $1.37 billion versus $1.25 billion in the 13-week fourth quarter of fiscal year 2006. On a 14-week to 14-week basis, comparing the 14 weeks ended Feb. 3 to the 14 weeks ended Feb. 4, 2007, net revenues increased 3.4%, despite a comparable-store sales decrease of 0.1%.

Diluted earnings per share for the 14-week fourth quarter of fiscal year 2007 increased 8.5% to $1.15 per diluted share versus $1.06 per diluted share for the 13-week fourth quarter ended Jan. 28, 2007.

Howard Lester, chairman and ceo, commented, “While the post-holiday macro environment continued to soften, we remained focused on the things we could control, and delivered fourth quarter earnings results at the high end of our estimates. We are pleased with these results and believe they once again reflect the strength of our brands, the marketing power of our multi-channel strategy, and our ability to execute our business in difficult economic times.” 

Retail net revenues in the 14-week fourth quarter of fiscal year 2007 increased 7.7% to $846.6 million versus $785.8 million in the 13-week fourth quarter of fiscal year 2006. On a comparable 14-week to 14-week basis, retail net revenues increased 3.4%. This increase was driven by a 5.3% year-over-year increase in retail leased square footage, including 12 net new stores. Net revenues generated in the Williams-Sonoma, West Elm, Pottery Barn and Williams-Sonoma Home brands were the primary contributors to the year-over-year revenue increase.