Susan Dickenson

Williams-Sonoma, JC Penney 3Q results; Oneida opens 2nd outlet; Tuesday Morning's bamboo collection
November 15, 2007

Williams-Sonoma's 3Q net income fell to $27.1 million for the third quarter ended Oct. 28, down from $29.1 million in the same period a year ago, the company announced today (Nov. 15). Revenues for the fiscal third quarter increased 5% to $895.1 million versus $852.8 million in the fiscal third quarter a year ago. Comparable store sales incrased 1.1% during the quarter, including a 0.3% rise at Williams-Sonoma brand stores, a 0.3% rise at Pottery Barn, a 4.5% rise at Pottery Barn Kids and a 2% rise at outlet stores. Howard Lester, Chairman and CEO, commented, "The home furnishings environment in the third quarter continued to be very challenging, particularly in the areas of the country where housing-related macro issues have had the greatest impact. As we look forward to the fourth quarter, we are doing so with a heightened sense of caution due to our belief that the overall macro environment is having a greater impact on retail traffic than we previously anticipated." Lester also said that retail November traffic is already slower than expected.

JC Penney’s third quarter revenues fell 1.1% to $4.72 billion and comparable store sales fell 3.5%. The company said its catalog business had been hurt by a slowdown in home furnishings, which account for more than half its sales. Internet sales, which have been growing at an annual rate of more than 20% increased by only 11.8%.

Kittery, ME – Oneida Ltd. announced today (Nov. 15) the grand opening of a new outlet store at Kittery Premium Outlets, continuing the tableware company's aggressive multi-year outlet expansion plan. This store opening, Oneida’s only outlet store in New England, follows an opening earlier this month of a new store in Dawsonville, Ga. The Kittery outlet is the second Oneida store designed by JGA Design, a Detroit-based retail design and architectural firm that has worked with such brands as Coca-Cola, Jaguar and Saks Department Store Group. The new store look will offer interactive displays by bringing merchandise off the shelves for consumers to see on tabletops, will turn traditional vertical flatware displays into a more engaging horizontal layout and will offer on-site shopping kiosks connecting consumers to Oneida’s website and worldwide inventory, among other features.

Tuesday Morning is featuring linens, kitchenware and art supplies made from eco-friendly bamboo wood and fibers at its November sales event. “This incredible bamboo collection is here just in time for gift giving and holiday season entertaining,” said president/CEO Kathleen Mason. “All Tuesday Morning merchandise is picked for its value and quality, ensuring costumer satisfaction. A bonus is our commitment to adding environmentally friendly products such as these.” Home products include towels and bedding made from bamboo fiber (photo, left), natural antibacterial cutting boards and Tramontina spice racks made of bamboo and stainless steel (photo, right). “We want to do our part to helping the environment while also fulfilling our promise to customers to offer substantial savings on brand name, first quality closeouts,” Mason said. Tuesday Morning opened its first store in Dallas in 1974 and currently operates 810 stores in 47 states. 

Greenwood, S.C. -- Jackson & Perkins is opening an outlet store Nov. 23, offering products from their website and catalog at a discount price. The outlet also has kiosks where customers may browse the Jackson & Perkins website, order, and arrange for shipping. Coffee and cappuccino will be offered to customers. Jackson & Perkins offers decorative garden gifts and accessories in addition to a full-service nursery. 

Posted by Susan Dickenson on November 15, 2007 | Comments (0)