FINANCE

Williams-Sonoma Reports 2Q Profit Up 15%

BY CSA STAFF

New York City, Williams-Sonoma Inc. reported that its profit in the second quarter rose 15%, but the company lowered its full-year guidance due in part to weakness at its largest brand, Pottery Barn. Williams-Sonoma Inc. reported an income for the quarter ended July 30 of $35.6 million, up from $30.8 million for the same quarter last year. Comp-store sales rose 1.2%, driven especially by strength at the Pottery Barn Kids stores, while total revenue was up 6.4% to $825.5 million from $776.2 million.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Calif. Raises Minimum Wage to $8

BY CSA STAFF

Sacramento, Calif., Gov. Arnold Schwarzenegger and Democratic leaders have agreed to lift the minimum wage in California from $6.75 an hour to $8. The hike, the first since early 2004, will effect the more than 1 million Californians who earn minimum wage and will allow them to receive a nearly 20% pay increase over the next year and a half.

Workers will get a 75? increase Jan. 1 and an additional 50? on Jan. 1, 2008.

The jump to $7.50 on New Year’s Day will make California’s minimum wage the nation’s fourth-highest, following Washington, Oregon and Connecticut. The federal minimum wage is $5.15 an hour.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Borders Posts 2Q Loss

BY CSA STAFF

Los Angeles, Borders Group reported a second-quarter net loss of $18.4 million, matching Wall Street estimates, vs. a year-ago net profit of $1.3 million. Comp-store sales for Borders Superstores fell 5.3%, while comps at the Waldenbooks chain fell 12%. Revenue for the quarter fell 4% to $856.0 million.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...