Williams-Sonoma pushes toward the $1 billion web sales mark

Williams-Sonoma Inc. is pushing hard to join the $1 billion online sales club. In the fourth quarter, web sales rose by 17.7% to $285.5 million from $242.5 million in Q4 2006.

But for the full year, Williams-Sonoma also grew web sales by 21% to $927.6 million from $766 million in 2005. For 2006 Williams-Sonoma, No. 19 in the Internet Retailer Top 500 Guide, posted net earnings of $208.9 million on revenue of $3.72 billion, compared to net earnings of $214.9 million on revenue of $3.53 billion in 2005.

In Q4 Williams-Sonoma had net earnings of $121 million on sales of $1.25 billion vs. net earnings of $120.8 million on revenue of $1.21 billion in 2005.

Overall the web accounted for 25% of sales in 2006. “Although our fourth quarter and fiscal year 2006 results were not where we expected them to be when we entered the year, we do believe they demonstrate our ability to aggressively react to a rapidly changing business climate and our commitment to optimize profitability, even in difficult times,” says Williams-Sonoma chairman and CEO Howard Lester.