San Francisco-based Williams-Sonoma Inc. reported catalog and Internet net sales of $198.6 million for the first quarter of fiscal 2003, an 11.4% increase over the $178.3 million posted in the first quarter of fiscal 2002.
Internet sales were $60.2 million in the first quarter ended May 4, an increase of 58% versus $38.1 million in the previous year’s quarter.
The increase was attributed to sales generated in the Pottery Barn and Pottery Barn Kids brands, as well as incremental sales in the new West Elm and Pottery Barn Teen catalogs, which had performed stronger than expected, noted Howard Lester, chairman, in a statement.
Net earnings for the first quarter of 2003 were $13.4 million, versus $15.4 million in the first quarter of fiscal 2002.
Net revenues, including shipping fees, increased 12.2% to $536.8 million in the quarter, compared to $478.4 million in the same quarter last year.
For the second quarter, direct-to-customer sales are projected to be in the range of $199 million to $207 million, an increase in the range of 12.4% to 16.9% compared to the second quarter of fiscal 2002.
Catalog circulation for the year is projected to increase 14% to 17%.
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