Williams-Sonoma’s online sales three-quarters of company’s Q2 revenue

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Shares of Williams-Sonoma Inc. fell more than 4% in the extended session Wednesday after the retailer reported a second-quarter adjusted profit above expectations and sales that met forecasts, highlighting its online sales. Williams-Sonoma said it earned $135 million, or $1.70 a share, in the quarter, compared with $63 million, or 79 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $1.80 a share, compared with 87 cents a share a year ago. Revenue rose 9% to $1.49 billion, the company said, thanks to “a significant acceleration in e-commerce revenue growth to approximately 46%.” Analysts polled by FactSet had expected adjusted earnings of 1.03 a share on sales of $1.47 billion. E-commerce penetration reached an all-time high of almost 76% of total company revenues, Williams-Sonoma said. “Longer term, we believe the behavioral changes and industry shifts that have emerged from the pandemic will persist and continue to favor our business,” Chief Executive Laura Alber said in a statement. “We are investing in the next phase of our growth and the opportunities that position us for accelerated market share gain.” Shares of Williams-Sonoma ended the regular trading day up 3.8%.
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