Williams-Sonoma bucks convention in a market with excess home goods
San Francisco – Unlike nearly all of their competitors, Williams-Sonoma Inc.’s nameplates are still chasing inventory.
Furniture accounts for the lion’s share of the backlog, but overall demand remains strong – as demonstrated by Williams-Sonoma Inc.’s second quarter financial results. With a rising share of business coming from Gen Z and Millennials, the company is eliminating broad promotional sales across its businesses.
During a recent quarterly investor call, company president and CEO Laura Alber was frank about the current retail environment.
“The industry is already very promotional, particularly with the big box retailers faltering. There’s a lot [of home merchandise] that they’re flushing through,” she said.