I've never understood Williams-Sonoma. Don't get me wrong, it's a wonderful place to browse. Walking into Williams-Sonoma, I feel like Dorothy as she opened the door of her tornado-tossed black-and-white house and stepped into the technicolor wonders of Munchkinland. Le Creuset cookware in every color of the rainbow. Glistening stainless steel pots. Artisanal sauces, jams, chutneys, and condiments in attractive, fabric-sealed jars. If Little Shop of Horrors moved from Skid Row to Park Avenue, Williams-Sonoma would feature prominently when Audrey belts out Somewhere That's Green.
Browsing there's one thing. Buying there's something else again. Williams-Sonoma is a full price shop. Everything is high end, and everything is full retail. In an age where Amazon will deliver the same stuff to your door for much, much less, who uncorks their credit card at Williams-Sonoma? It just never made any sense to me.
Apparently, it's making less sense to everyone else. The chain reported a 90% drop in revenue for the quarter, with profit falling from $1.15 a share a year ago to just 12 cents a share! And they don't expect to make a profit again until Christmas. Sales actually dipped more at Pottery Barn (29% vs 16.8% for W-S), which is owned by the same company.
Crazy! Sanity!