The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
The web accounted for 34.4% of the company’s revenue.
Web sales increased 27.1% for Williams-Sonoma Inc. during the second quarter, to $267 million from $210 million for the same period last year, the housewares, furnishings and gift retailer reported today.
Williams-Sonoma operates six e-commerce sites: Williams-Sonoma.com, PotteryBarn.com, PotteryBarnKids.com, PBTeen.com, WestElm.com and WSHome.com. Williams-Sonoma is No. 26 in the Internet Retailer Top 500 Guide.
For the quarter ended Aug. 1, Williams-Sonoma also reported:
- Total sales were $776 million, up 15.4% from $672 million during the same quarter last year.
- Total direct-to-consumer sales, including web and catalog sales, were $326 million, an increase of 19.8% from the second quarter of 2009, when sales were $272 million. Direct-to-consumer sales for the second quarter of 2010 accounted for 42% of net sales.
- Total retail sales were $450 million, up 12.5% from $400 million during the second quarter of 2009. Same store sales grew 13.6%.
The web accounted for 34.4% of sales for the quarter.
Calling the results better than expected, company president and CEO Laura Abler also announced the company expects to see revenues increase by 7% to 10% during the third quarter and by 9% to 11% for the full year, compared with the same periods last year.
“Innovative merchandising at compelling price points—combined with highly targeted marketing and a superior customer experience—drove these better than expected results,” she says. “We continue to see a significant opportunity ahead of us to attract new customers to our brands, gain market share and improve profitability.”
Williams-Sonoma also reported the following year-to-date figures:
- Net revenue was $1.49 billion, up 16.4% from $1.28 billion during the same term last year.
- Direct-to-consumer revenue was $631.5 million, up 20.1% from $526.1 million for the same period last year.
- Total retail revenue was $861.7 million, an increase of 13.7% from the same point last year, when total retail revenue was $757.6 million.
Based on prior filings, Internet Retailer calculates year-to-date web sales total $515.9 million, up 27.8% from year-to-date web sales in 2009, which were $403.7 million. Internet Retailer calculates the web accounted for 34.6% of total year-to-date sales, up from 31.5% from the same term last year.