Williams-Sonoma Profit Climbs 26%
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Williams-Sonoma Inc., owner of the Pottery Barn and Williams-Sonoma stores, said fiscal second-quarter profit climbed 26% after the company opened more locations and kept the chains better stocked with merchandise.
Net income rose to $17.8 million, or 15 cents a share, from $14.1 million, or 12 cents, a year earlier, the San Francisco-based company said. Sales in the three months ended Aug. 3 increased 17% to $580.4 million.
Chief Executive Edward Mueller has been increasing inventory in Pottery Barn and Pottery Barn Kids stores. The company also benefited from the addition of 44 stores in the last year. Sales at stores open at least a year rose 6.5% in the quarter. Same-store sales rose 12% at the company’s Williams-Sonoma chain.
Shares rose 19 cents to $30.50 on the New York Stock Exchange.
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