Earnings Roundup: Williams-Sonoma, Family Dollar, Dress Barn
San Francisco, Williams-Sonoma Inc. recorded net earnings of $102.6 million in its recently completed fourth quarter, up 0.5% from the same quarter a year before. The figure includes a $10.7 million charge related to a lease accounting adjustment. Net revenues for the quarter increased 7.9% to $1.08 billion on same-store sales growth of 1.5%. For the fiscal year, the merchant’s net earnings increased 14.6% to $180.1 million, aided by a 13.9% increase in net revenues to $3.14 billion and same-store sales growth of 3.5%.
• Family Dollar Stores Inc. posted net income of $80.1 million in its second quarter, down 0.4% from the year-ago period. The decline was partly due to a change related to the company’s lease accounting procedures. Sales rose 13.1% to $1.59 billion in the quarter, supported by same-store sales growth of 4.5%.
• The Dress Barn Inc. reported net earnings of $1.6 million in its recently completed second fiscal quarter, down from $3.7 million in the year-ago period. Dress Barn’s most recent earnings figure includes a negative impact of $2.1 million stemming from the costs of acquiring and integrating its new Maurices Inc. unit. Net sales rose by 17% to $200.1 million, thanks in part to the addition of Maurice’s 470 stores. Same-store sales increased by 2%.