Double-digit growth at Pottery Barn was key to a strong second quarter for Williams-Sonoma, Inc., as the company reported a same-store sales increase of more than 10% for the period ending July 31.
Company-wide, net revenue was $2.1 billion, up from net revenue of $1.9 billion in the comparable quarter the previous year. Net earnings were $267 million, up from net earnings of $246 million in the second quarter. Diluted earnings per share were $3.87, up from earnings per share of $3.21 in the same quarter the previous year.
Overall comparable store sales were up 11.3% in the quarter driven by growth of 21.5% at Pottery Barn. Comparable sales at West Elm were up 6.1%, up 5.3% at Pottery Barn Kids and Teen and 0.5% and Williams Sonoma stores.
“These impressive results reflect the strength of our multi-brand portfolio, the success of our growth initiatives, and the ongoing execution of the team, said Laura Alber, president and CEO of Williams-Sonoma, Inc. “We continue to demonstrate our ability to perform by offering high-quality, differentiated, and sustainable products that our customers know and love. Our performance was driven by strong order fulfillment, positive demand comps, and our successful continued elimination of site-wide promotions.