In its second-largest acquisition, Amazon buys the company for $970 million.
Williams-Sonoma Inc. reported strong Internet revenue of $227.2 million for the third quarter of 2006, an increase of 15% over the same period in 2005.
Williams-Sonoma Inc. reported Internet revenue of $227.2 million for the third quarter of 2006, an increase of 15% from the same period in 2005. Internet sales growth outpaced total net revenue growth, which reached $852.7 million. That figure was 3% above Q3 2005’s total of $827.6 million.
Year-to-date Internet sales revenue topped $642 million, a year-over-year increase of almost 23%. Williams-Sonoma is No. 19 in the Internet Retailer Top 500 Guide to Retail Web Sites.
Direct-to-customer revenue in Q3, which includes Internet and catalog sales, fell by 0.3% compared to Q3 2005. Williams-Sonoma cited the shut-down of its Hold Everything stores, catalog and e-commerce site earlier this year and declining revenue from its Pottery Barn business as reasons for the slight drop in direct sales.