FINANCE

Williams-Sonoma Q2 tops Street; expanding global footprint

BY Marianne Wilson

San Francisco — Williams-Sonoma on Wednesday reported better-than-expected second-quarter profit amid same-strong sales. The retailer raised its full-year forecast, but its profit outlook still fell short of market expectations.

The company also announced that it will expand its international presence, adding more stores in Australia and entering the United Kingdom later this year, and debuting in the Philippines in 2014.

Williams-Sonoma said that it earned $48.9 million for the quarter that ended Aug. 4, up from $43.4 million last year.

Total revenue increased 12.3% to $982 million from $874 million. Same-store sales rose 8.4%.

The chain’s revenue from its direct-to-consumer business increased by 15.3% to $477.7 million.

Williams-Sonoma said it has entered into a franchise agreement with Store Specialists Inc. to expand in the Philippines. Pottery Barn and Pottery Barn Kids will be the first brands to debut and are expected to open in Manila in early 2014. The agreement with SSI includes development rights in the Philippines for all brands in the Williams-Sonoma, Inc. portfolio including: Williams-Sonoma, Pottery Barn, Pottery Barn Kids, PBteen and West Elm.

“We believe there is a significant opportunity to extend the reach of our brands globally,” said Williams-Sonoma president and CEO Laura Alber. “The Philippines is a natural market for us, with a strong, steadily growing economy and consumer interest in high-quality, stylish home products.”

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K.Willson says:
Sep-03-2013 11:44 am

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I like the way you have writen this post and i am defuinately agreed with all of your points that the enomy and revenue has to be good to run a company. life on mars jacket

K.Willson says:
Sep-03-2013 11:44 am

I like the way you have writen this post and i am defuinately agreed with all of your points that the enomy and revenue has to be good to run a company. life on mars jacket

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STORE SPACES

H&M to open its largest store to date, in New York’s Herald Square

BY Marianne Wilson

New York — Swedish fast-fashion giant H&M will open its largest location to date, a 63,000-sq.-ft. flagship in New York City’s bustling Herald Square. Scheduled to open in fall 2014, the four-level store will be located in Herald Center, a JEMB Realty property. The landlord’s broker is CBRE.

“H&M’s newest and greatest commitment to Herald Square is the next level in this retail submarket becoming one of the premier shopping destinations in New York City,” said Susan Kurland, executive VP of retail services at CBRE, in a prepared statement. “JEMB Realty envisioned a premier retail flagship at Herald Center, creating an unmatched branding opportunity in the heart of Herald Square.”

Herald Center is a 250,000-sq.-ft. retail and office building located on the corner of 34th Street and Broadway. It is due to begin a major renovation and repositioning, with an expected completion date of late next summer.

H&M is also on track to open a 42,500-sq.-ft. store at 4 Times Square by the end of this year. The retailer is setting up shop in a space that was vacated by themed restaurant ESPN Zone.

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News

Amazon releases API for in-app purchases

BY Dan Berthiaume

Seattle – Amazon.com has introduced the Mobile Associates API for Kindle Fire and other Android devices, enabling developers to sell physical and digital items from Amazon.com within their apps and games. Developers and members of the Amazon Associates program (the API is technically an extension of the program) can now sell a single item from within an app or game, showcase a category of goods, or bundle the purchase of physical goods with the purchase of digital goods.

Previously, developers had to use a “freemium” model with digital in-app purchasing or subscriptions, or by using mobile ads. When using the new API, developers earn up to 6% on qualifying in-app customer purchases and can allow customers to buy and receive goods through Amazon’s 1-Click purchase mechanism and Amazon Prime shipping, where available. The API can be used in the Amazon Appstore and in Google Play.

“Developers now have the ability to create an even deeper connection between their app and the products customers value and purchase through Amazon.com,” said Mike George, VP of Amazon Appstore, Games and Cloud Drive. “Imagine a developer of a nutrition and fitness app can now offer their customers the ability to purchase vitamins, supplements and fitness gear within the app, directly from Amazon.com. It offers the customer a more relevant experience and provides the developer with a new source of revenue.”

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C.Lawrence says:
Aug-31-2013 10:16 am

Amazon is popular for
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C.Lawrence says:
Aug-31-2013 10:16 am

Amazon is popular for providing efficient and affordable deals. http://www.chesstelecom.com/business-line-and-call-plans

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