San Francisco Williams-Sonoma swung to a bigger-than-expected profit in its fiscal first quarter profit on a rebound of sales which, along with fewer markdowns, helped margins surge. The retailer raised its 2010 forecast.
For the period ended May 2, Williams Sonoma posted a profit of $19.5 million, compared with a prior-year loss of $18.7 million in the year-ago period. Revenue jumped 17% to $717.6 million. Same-store sales were also up 17%, up 11% at namesake stores and 23% at both Pottery Barn and Pottery Barn Kids.