The retailer says web sales grew about 30% during the period, while total sales were lower than projected.
By the end of the year, Williams-Sonoma will close down HoldEverything.com to concentrate on its more profitable web sites such as Williams-Sonoma.com and PotteryBarn.com, the company says.
Williams-Sonoma Inc. is closing down HoldEverything.com, which sells home décor, storage and home accessories products.
“We intend to immediately begin transitioning Hold Everything`s merchandising strategies into our other brands while we wind down our current Hold Everything retail and direct-to-customer operations,” says Williams-Sonoma chairman Howard Lester. “We expect to cease all marketing under the Hold Everything brand name by the end of 2006."
Hold Everything was one of Williams-Sonoma’s oldest multi-channel brands, but a relative newcomer to e-commerce. The company mailed the first Hold Everything catalog in 1983 and opened the first store in 1985, but only launched HoldEverything.com in 2004.
Williams-Sonoma, No. 20 in the Internet Retailer Top 400 Guide to Retail Web Sites, also operates WilliamsSonoma.com, PotteryBarn.com, PotteryBarnKids.com, PBteen.com, WestElm.com and Williams-SonomaHome.com. The company expects to take an after-tax charge of $10 million to $12 million as it shuts down the Hold Everything stores, catalog and web site.