Williams-Sonoma 4Q profit falls 90 percent

[Tab]

Ouch!

SAN FRANCISCO – Williams-Sonoma says its fourth-quarter profit fell 90 percent as it closed underperforming stores and laid off workers amid the recession.

The San Francisco-based retailer of high-end house wares earned $12.2 million, or 12 cents per share, down from $124.6 million, or $1.15 per share, in the same quarter a year earlier.

Revenue for the period ended Feb. 1 fell 27 percent to $1.01 billion from $1.37 billion.

Excluding one-time costs for store closures, severance and lease terminations, Williams-Sonoma Inc. recorded profit of 31 cents per share in the latest quarter.

Analysts polled by Thomson Reuters, whose estimates usually exclude one-time charges, expected profit of 16 cents per share on revenue of $976 million.

[NashVegas]

1. Xmas Shopping

Which apparently means we stop buying expensive kitchen stuff for ourselves and start buying sweaters for everyone else.

[yy4me]

2. Youch! Are they owned by or do they own Pottery Barn?

I can see why their profits are down. As much as I admire the goods offered by W/S, the prices are through the roof. We are all forced to comparison shop--that is--f we can afford to shop at all.

[elleng]

3. I can't shop at all,

but was lucky to just find a large bag of my favorite W-S sponges! So I'm ok for a few years.

[yy4me]

4. The flat expandable ones? They re great., I bought them years

ago but now I don't even go into the store. The big bag of sponges at the dollar store has to do for me.

Actually, I did go to WS about once a year for Wenol, it is the best tube of metal polish you can buy. I do understand it is now sold at hardware stores and home improvement stores.

So much for my $10.00 a year purchase from them. I'm sure they will miss me!

[elleng]

5. Yup, thems the ones!

I'm in a different house/kitchen now than I was when I actually paid for them, and was complaining (to myself) about the available sponges. Went back to 'old' house (recently sold) and found the bag! Made my day! And I also retrieved a couple of cedar pieces for closets. (Too late to protect a couple of my good sweaters, tho.) Will return for photo albums and books; hope I can finish soon.

[Tab]

8. Yeah, they are overpriced

playing to the high-end market

Still, a 90% drop? That's gotta hurt.

But I agree - their prices are over the top.

[lavenderdiva]

11. yes, they own Pottery Barn

Williams-Sonoma, Williams-Sonoma Home, and West Elm. One big umbrella company.

[hippywife]

6. It's Stinky's fault.

:hide:

[Warpy]

7. I hope the only one in this town stays open

and they should. I see foo foo ladies in there all the time dropping big bucks on stuff they could get for half price on the net. I guess when you're a foo foo lady, you don't have to worry about price tags.

I'd miss them because that's where I exchange my Soda Stream C02 cannisters.

[eleny]

9. Maybe I need to get some cans of Seville oranges before they go out of business

[Phentex]

10. I've got one close by and I like to shop for gifts there...

mainly for people I know who can appreciate their stuff. Some of the stuff is crazily overpriced. Other things are a good price once on sale and some things are just too neat to pass up. I got some sanding sugars there that I haven't seen elsewhere. They were $4 each so by the time I ordered online and paid shipping, I don't think that's overpriced. Plus they are soooo pretty, my pretty!

It's too dangerous for me to go there very often so I don't.

I could spend hours there just looking. I am the same way with The Cook's Warehouse. I try to hear Alton Brown reminding me I don't need all the pretty gadgets!:)

[Stevenmarc]

12. Time to hit the WS outlet