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Revenues, profits dropped during 4Q
Upscale home-goods retailer Williams-Sonoma Inc. (San Francisco) said its fiscal fourth quarter revenues fell by 26.7 percent from a year earlier, to just over $1 billion, while its profits for the period plummeted by 90 percent, to $12.2 million. “While the fourth quarter ended better than we expected, due to increased promotional activity and tight cost controls, the retail environment overall was very weak,” said chairman and ceo Howard Lester. The company operates stores under the Williams-Sonoma, Pottery Barn, Pottery Barn Kids brands.
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