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Williams-Sonoma Plans Growth

SAN FRANCISCO-The parent company of Williams-Sonoma and Pottery Barn is furthering its expansion plans.

By Jennifer D. Duell | Updated on May 25, 2006

SAN FRANCISCO-Williams-Sonoma Inc., which operates the Williams-Sonoma and Pottery Barn brands, plans to open 57 new stores this year, representing a 7% increase in leased square footage compared with 2005. Specifically, the company will expand Williams-Sonoma by 19 units and Pottery Barn by 16 stores.

Williams-Sonoma plans to open nine new stores in the second quarter, following the opening of 12 during the first quarter, bringing its total store base to 569 units. The first-quarter openings included two Pottery Barn Kids, the concept that had the strongest comp-store sales increases during the third quarter at 3.3%. Overall, the company achieved comp-store sales growth of 1.3% for the quarter on top of 5% comp increases for the same period last year.

For the first quarter, the company’s revenues increased 10.2% to $794.3 million, versus $720.7 million in the first quarter of fiscal-year 2005. Net earnings decreased 11.7% to $23.1 million, or 20 cents per diluted share, versus $26.2 million or 22 cents per diluted share in the first quarter of fiscal 2005.

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