Williams-Sonoma profit up 19% in Q3
San Francisco – Williams-Sonoma Inc. reported Thursday that profit for the third quarter rose 19% to $43.4 million, from $36.5 million in the same period last year.
Revenue rose 6% to $867.2 million, compared with $815.5 million last year and solidly beating Wall Street’s expected $855.7 million in revenue.
Same-store sales overall rose 7.3%, comprised of a 7% rise in the company’s Pottery Barn stores, a 5.2% rise at Pottery Barn Kids and a 27% surge at West Elm. Same-store sales at namesake stores were up a slight 0.1%.
E-commerce revenue rose 15% to $339 million.
PetSmart Q3 profit up 22%
Phoenix — PetSmart Inc. reported Thursday that net income for the quarter ended Oct. 30 rose 22% to $56.2 million, from $45.6 million a year earlier.
Revenue rose nearly 8% to $1.5 billion from $1.4 billion, just beating Wall Street’s expected $1.49 billion in revenue. Same-store sales increased 6.1%.
Children’s Place sales, profits up in Q3
Secaucus, N.J. — The Children’s Place Retail Stores reported Thursday that net income increased to $33.7 million for the quarter ended Oct. 29, up from $31.2 million a year earlier.
Sales rose 7% to $484.1 million from $453.4 million. Same-store sales edged up 0.9%.
President and CEO Jane Elfers said the improved profit and sales picture was attributable to a combination of enhanced merchandise offerings, a honed focus on inventory management and “momentum from our other strategic growth initiatives which enabled us to drive sales and expand margin despite significantly higher product costs and a difficult macroeconomic environment," said Elfers.
During the third quarter, The Children’s Place opened 18 stores and closed two. Fiscal year-to-date 2011, the company has opened 88 stores and closed seven.