Williams-Sonoma, the upscale purveyor of housewares, believes its multichannel strategy is paying off with sales and earnings.
Fourth-quarter sales increased 6.1% to $1.268 billion, compared with $1.195 billion in the same quarter last year.
Net income of $122.6 million for the quarter was up 8.1% from $113.4 million.
“Fiscal 2011 was a year of milestones -- both in terms of operational performance and progress against our long-term growth initiatives,” said Laura Alber, president and CEO. “Through strong execution and a superior multichannel strategy, we delivered record earnings and profitability in a promotional environment.”
Not counting direct-to-consumer sales, retail net revenues in the fourth quarter increased 1.1% to $737 million versus $729 million in the same quarter last year. The growth was primarily driven by increases in the Pottery Barn, West Elm and Pottery Barn Kids brands in addition to international franchise operations, partially offset by a decrease in the Williams-Sonoma brand and the sales impact from the closure of Williams-Sonoma Home stores during the fourth quarter.
The company also announced that senior VP and corporate controller and treasurer Julie Whalen will take over as acting CFO for Sharon McCollam, who has retired.