Williams Sonoma Inc is a multi-channel retailer of high-quality products for the home. It operates under brands like Williams Sonoma, Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, West Elm, Williams Sonoma Home, Rejuvenation, and Mark and Graham. They are all marketed through e-commerce websites, direct-mail catalogs, and retail stores. It operates in the U.S., Puerto Rico, Canada, Australia, and the United Kingdom, offers international shipping to customers worldwide, and has unaffiliated franchisees that operate stores in the Middle East, the Philippines, Mexico, South Korea, and India, as well as e-commerce websites in certain locations. In FY2021, it had a total of 544 stores and closed a net of 37 stores during the fiscal.
In FY2021, Williams Sonoma operated with a total of 544 stores, which include 502 stores in 41 states, Washington DC, and Puerto Rico, 20 stores in Canada, 19 stores in Australia, and 3 stores in the United Kingdom. There are also multi-year franchise agreements with third parties in the Middle East, the Philippines, Mexico, South Korea, and India, which operate 139 franchised locations and e-commerce websites. It closed down 37 stores during FY2021.
Global supply chain disruptions, such as COVID-19-related factory closures and increased port congestion, in FY2021, caused inventory receipt delays, higher raw material costs, and higher shipping charges.
The net revenues in FY2021 increased by 21.6%, compared to FY2020 YoY with comparable brand revenue growth of 22% and double-digit comparable brand revenue growth across all our brands. This was driven by strength in both e-commerce and retail, primarily due to an increase in furniture sales, as well as the impact of stores operating at a limited capacity due to COVID-19 during portions of fiscal 2020. The increase in its net revenue also included a 23.4% increase in international revenues, related to both its franchise and company-owned operations.
Its e-commerce business has been the fastest growing over the last several years and represented more than 65% of its net revenues and profits in FY2021.
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