Williams-Sonoma reports earnings growth
Williams-Sonoma announced that net revenues for the fourth quarter of 2010 increased 9.7% to $1.2 billion from $1.09 billion in the fourth quarter of 2009, including Internet net revenue growth of 27.2% and a comparable-store sales increase of 5.2%.
Williams-Sonoma reported that net revenues for the 2010 fiscal year increased 12.9% to $3.5 billion from $3.1 billion in 2009, including Internet net revenue growth of 26.9% and a comparable-store sales increase of 9.8%.
Laura Alber, president and CEO, said: “Fiscal 2010 was a record earnings year for Williams-Sonoma. Each of our brands is stronger today than a year ago, and we made substantial progress on our longer-term growth and profitability initiatives. We are particularly pleased with the progress we made in merchandising, marketing, customer acquisition and customer service, as it is these competitive advantages that allowed us to attract new customers to our brands and gain profitable market share all year, including Internet revenue growth of 27%.”
Going forward, Alber said she expects growth in the company’s e-commerce business.
"In fiscal 2011, we expect e-commerce to once again be our most profitable and fastest growing channel. As such, our direct-to-customer segment is expected to reach 43% of total company revenues in fiscal 2011 versus 41% in fiscal 2010."
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Readers Respond: Sitting down on the job
An article about recent court cases in California that have given employees the right to sue their employers for "suitable seating" led to several reader responses:
“People stand all day in factories and in retail stores doing their job. Giving good customer service demands that clerks walk the store looking to help people. If we give them chairs, customer service is gone. What are they going to do, sit there expecting people to look for them? We are in a very competitive retail environment today, and to stay in business it means [standing up] and working.”
— Don Boulter
Battels Hardware & Tool Co.
“We have store locations throughout the United States, including California. The state of California, and its laws, result in more lawsuits and legal fees for us than all others state combined. Prop. 65, VOC regulations, ZIP code class actions suits related to California Credit Card Act, and on and on.
“We are no longer adding stores in the state as a result of the added costs of doing business in California. The litigious state of California has not only crossed the point of overreaching parenting, but has set into motion a future business climate that will push companies to do as little as possible within the state. For a state that is all but bankrupt, they seem to be oblivious to the values that made this country great.”
“I think this is carrying it a bit too far. If you want to sit down somewhere, you will find a place — what’s next — make sure you feed me, and cloth me?”
— Chris from Indiana
I think it's only fair that
I think it's only fair that someone else should be responsible for me. I also think companies in CA should be forced by the government to provide funding for haircuts (it grows on the job) and guarantee enough pay to cover the level of lifestyle I choose to enjoy- including enough to pay my mortgage, car payments, and all my credit card debt. [disclaimer- this in a personal response and in no way is intended to represent the position of ProBuild or any of its employees]
This again shows the lunacy,
This again shows the lunacy, not in just California, but in the fedral government and judicial arena as well. This was probably started by yet another blood sucking parasitic "Trial Attorney" looking for a massive payday through a Class Action suit. He'll extort hundreds of millions in fees and the claimants will get a $ 10 OFF Coupon at "Chairs R Us". No wonder King Henry declared "Kill all of the lawyers".
Jeld-Wen scores with stadium name in Portland
Jeld-Wen and the Portland Timbers soccer team announced a new naming rights partnership for the team’s newly renovated home venue, which now will be known as Jeld-Wen Field.
The multiyear deal provides stadium naming rights for the downtown Portland venue that annually will play host to Timbers home games as well as college and high school football games, and other events.
Jeld-Wen Field officially will be opened to the public when the Timbers play the Chicago Fire April 14, in their first-ever home match as an MLS team.
As part of the deal, Klamath Falls, Ore.-based Jeld-Wen also becomes the Official Window and Door Provider of the Timbers and Major League Soccer, and will partner with the Timbers on a number of important community initiatives. The League partnership gives Jeld-Wen the right to use MLS League and Club marks along with logos and marketing assets at League and select Club events such as the MLS All-Star Game and MLS Cup, Major League Soccer’s championship game.
Terms of the deal were not disclosed.
“From a branding standpoint, partnering with the Timbers and Major League Soccer is an ideal fit for Jeld-Wen,” said Steve Wynne, the window and door manufacturer’s chief marketing officer. “Soccer is an international sport, and we’re an international company."
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