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Williams-Sonoma reports revenue growth for Q2

SAN FRANCISCO Williams-Sonoma reported that net revenues in the second quarter of 2010 increased 15.4% to $776 million versus $672 million in the second quarter of fiscal 2009. Comparable-store sales increased 13.6% from last year.

Diluted earnings per share on a GAAP basis was 28 cents compated with 0 cents for the same period last year.     

Retail net revenues for the quarter increased 12.4% to $450 million versus $400 million in the same period last year. This increase was driven by growth of 13.6% in comparable-store sales, partially offset by a 3.0% year-over-year reduction in retail leased square footage, including 20 net fewer stores. Increased net revenues during the quarter were driven by the Pottery Barn, Williams-Sonoma and West Elm brands.

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