Latest news with #Williams-Sonoma
New York Post
3 days ago
- Business
- New York Post
Williams-Sonoma founder's retreat for sale — longtime hideaway for home-goods powerhouse has a secret wine cellar
A storied estate once owned by the executive who built Williams-Sonoma into a household name is up for sale in Glen Ellen, California, asking $9.25 million. The 9-acre property served for decades as the personal retreat of the late W. Howard Lester, the Oklahoma entrepreneur who transformed a single-store French cookware shop into a national, and luxe, retail powerhouse. Lester acquired Williams-Sonoma in the 1970s for just $100,000, later adding Pottery Barn to his portfolio in 1986, according to a press release. Advertisement 13 The longtime Sonoma County estate of the late W. Howard Lester, the businessman who transformed Williams-Sonoma into a household name, is on the market for $9.25 million. Zillow Media Experts for Sothebyâs International Realty 13 W. Howard Lester at the Post Street store in San Francisco in the 1970s. Business Wire He led the company until his death in 2010, during which time it became synonymous with upscale kitchen and home goods. Advertisement Following Lester's passing, his family sold the estate in 2017 for $6 million in an all-cash deal, according to public records. Daniel Casabonne of Sotheby's International Realty, who holds the current listing along with colleague Gina Clyde, told Mansion Global, that buyer was 'a young Bay Area tech executive' who subsequently took out a $4 million loan. 13 Located on 9 acres in Glen Ellen, the property includes a modern farmhouse, a guest cabin — and manicured grounds with a pond, pool and trails. Zillow Media Experts for Sothebyâs International Realty 13 Lester, who bought the brand for $100,000 in the 1970s and later acquired Pottery Barn, owned the home for nearly four decades before his family sold it in 2017 for $6 million to a young Bay Area tech executive. Zillow Media Experts for Sothebyâs International Realty Advertisement 13 The current owner extensively renovated and nearly doubled the estate's size, adding contemporary touches while preserving its wine country charm — including a secret wine cellar, a sunroom and a skylit kitchen. Zillow Media Experts for Sothebyâs International Realty 13 The sunroom. Zillow Media Experts for Sothebyâs International Realty 13 One of three bedrooms. Zillow Media Experts for Sothebyâs International Realty 13 A second bedroom. Zillow Media Experts for Sothebyâs International Realty Advertisement The new owner undertook a sweeping renovation, nearly doubling the size of the existing structure. It's 'a statement in casual & refined wine country living,' reads the listing, which showcases the reimagined residence now outfitted with a modern pool, expanded interiors and upgraded amenities. The main home, a sprawling modern farmhouse, features a dramatic great room with beamed ceilings and paneled wood walls, a dining area with a concealed wine cellar and a sunlit yellow kitchen anchored by a skylit island. The three-bedroom layout includes a primary suite with a central soaking tub flanked by dual walk-in closets, and a children's wing fitted with custom bunk beds and rustic sliding doors. 13 An ensuite bathroom. Zillow Media Experts for Sothebyâs International Realty 13 A pool that can light up at night. Zillow Media Experts for Sothebyâs International Realty 13 The home offers plenty of room for al fresco dining. Zillow Media Experts for Sothebyâs International Realty 13 The pond. Zillow Media Experts for Sothebyâs International Realty Advertisement 13 The listing, held by Daniel Casabonne and Gina Clyde of Sotheby's International Realty, notes its proximity to the original Williams-Sonoma store and Jack London State Park. SRP – Beyond the interiors, the grounds offer rolling lawns, a pond, walking trails and a separate guest cabin tucked beside a creek. The property sits minutes from Jack London State Park and a short drive from the original Williams-Sonoma store in downtown Sonoma, a detail Casabonne noted as a fitting full-circle connection to the brand's roots.
Yahoo
3 days ago
- Business
- Yahoo
Affirm expands partnership with Williams-Sonoma into Canada
Affirm (AFRM) announced the expansion of its partnership with Williams-Sonoma (WSM) into Canada, building on their existing U.S. collaboration. This brings Affirm's pay-over-time options to Canadians shopping at Williams-Sonoma's brands, including Williams Sonoma, West Elm, Pottery Barn, Pottery Barn Teen, Pottery Barn Kids, and Mark & Graham. Approved Canadian shoppers can now split purchases into monthly payments with no late or hidden fees. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on AFRM: Disclaimer & DisclosureReport an Issue Mixed options sentiment in Affirm Holdings with shares up 4.41% Affirm (AFRM) Navigates BNPL Paradox as Growing Pains Weigh on Sentiment Klarna's IPO Is on Thin Ice as Q1 Losses Double to $99 Million Mixed options sentiment in Affirm Holdings (AFRM), with shares down $-4.81 (-8.51%) near $51.74 Affirm Stock (AFRM) Surges after Revealing New Deal with Costco
Business Wire
4 days ago
- Business
- Business Wire
Affirm expands partnership with Williams-Sonoma, Inc. into Canada
TORONTO--(BUSINESS WIRE)-- Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced the expansion of its partnership with Williams-Sonoma, Inc. (NYSE: WSM) into Canada. This builds on the companies' multi-year partnership in the U.S. and brings Affirm to Canadians shopping at Williams-Sonoma, Inc.'s family of brands including Williams Sonoma, West Elm, Pottery Barn, Pottery Barn Teen, Pottery Barn Kids, and Mark & Graham. Whether shopping for a sofa at their local West Elm or furnishing a new nursery with Pottery Barn Kids, approved Canadian shoppers can now split their purchases into monthly payments with Affirm. The process is simple: after selecting Affirm at checkout, consumers go through a quick, real-time eligibility check. If approved, they can choose the customized payment plan that best suits their needs and rest assured that they will never pay any late or hidden fees. 'As Canadian consumers continue to embrace smarter and more flexible ways to manage spending on home furnishings and essentials, Affirm has become a go-to choice for greater payment control and transparency,' said Wayne Pommen, Chief Revenue Officer at Affirm. 'We're thrilled to build on our successful collaboration with Williams Sonoma and their family of brands to bring more Canadians the financial clarity, flexibility, and peace of mind they deserve.' With this launch, Williams-Sonoma, Inc. and its family of brands join leading Canadian retailers, including Amazon, Apple, Samsung, Brown's Shoes, and more in offering Affirm's payment solutions to their customers. About Affirm Affirm's mission is to deliver honest financial products that improve lives. By building a new kind of payment network—one based on trust, transparency, and putting people first—we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | X. Rates from 0-31.99% APR (subject to provincial regulations). Payment options through Affirm Canada Holdings Ltd. ('Affirm') are subject to an eligibility check and depend on purchase amount, vary by merchant, and may not be available in all provinces/territories. A down payment (or a payment due today) may be required. AFRM-PA
Yahoo
4 days ago
- Business
- Yahoo
Williams-Sonoma acquires Dormify IP to expand in dorm market
Williams-Sonoma (WSM) announced the acquisition of the intellectual property of Dormify, an online retailer and content resource for college students and young adults. The company stated this strategic acquisition reinforces its commitment to long-term growth and its ability to capture market share. Williams-Sonoma plans to relaunch Dormify in 2026. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on WSM: Disclaimer & DisclosureReport an Issue Williams-Sonoma price target lowered to $160 from $165 at UBS Williams-Sonoma price target lowered to $182 from $189 at RBC Capital Williams-Sonoma Hold Rating: Merchandise Margin Decline Overshadows Strong Sales and EBIT Margin Expansion Williams-Sonoma: Hold Rating Amid Strong Performance and Tariff Challenges Williams-Sonoma: Strong Performance Amid Valuation Concerns and Short-term Risks
Yahoo
4 days ago
- Business
- Yahoo
Retailers plug in AI to optimize costs as economic pressures mount
This story was originally published on CIO Dive. To receive daily news and insights, subscribe to our free daily CIO Dive newsletter. Retail companies are leaning on AI and other technologies as pressures from tariffs and consumer spending patterns push businesses to optimize costs to stay competitive. With many retailers bracing for slower growth rates for the rest of the year as volatility continues, Ralph Lauren Corporation, Revolve Group and Williams-Sonoma are prioritizing investments in AI tools that they hope will mitigate economic headwinds and improve experiences for customers and employees. 'This is a time to stay on offense while remaining prudent and agile in how we allocate our resources,' Ralph Lauren Corporation President and CEO Patrice Louvet said during the company's Q4 2025 earnings call last week, citing AI, data and analytics as key pursuits. The company uses AI in a number of functions, including generative AI to enhance consumer navigation on its website, to help with problem resolution within contact centers and to accelerate predictive buying and allocation. 'With the recent tariff announcements, what we're doing is we're assessing and we're activating our various proven levers to offset the related impact,' CFO Justin Picicci said during the earnings call. 'These levers include … continuing to drive overall cost savings across the value chain and increasingly leveraging AI and analytics to enable even more efficient inventory planning.' Earlier this month, Ralph Lauren promoted Naveen Seshadri to global chief digital officer, following a short stint as global head of consumer technology and digital commerce in North America. The appointment aligned with the company's sustained focus on modernization, including an ERP overhaul and a three-year strategic growth initiative. Ralph Lauren plans for capital expenditures to reach up to 5% of its revenue in fiscal year 2026, representing ongoing investments in technology and AI, among other initiatives. The American fashion brand isn't alone in seeing AI as a lever to manage costs. Williams-Sonoma reaffirmed its goal of using AI to curb headcount in its latest financial report. 'From a cost perspective, we are committed to staying lean on headcount using AI tools to drive productivity gains in areas that make sense,' President and CEO Laura Alber said during the company's Q1 2025 earnings call last week. The retailer, which owns Pottery Barn and West Elm, is also using the technology across its digital platforms to create personalized emails and tailored homepages as it aims to become an AI leader in the industry, executives said. 'Our omni-channel capabilities are another core strength, and we are further optimizing them with AI,' Alber said during the call. 'This includes improvements in sales performance, cost efficiency and delivery speed.' While AI adoption strategies vary, most retailers are hoping their projects bring improved customer experience and support, better store layouts and enhanced inventory management, according to an Everseen report published in February. Online fashion retailer Revolve Group credited its AI efforts with providing greater visibility and awareness within customer service interactions. 'Our internal data science team has developed AI technology algorithms that now automatically transcribe customer service phone calls, providing greatly increased visibility into agent performance and greater awareness of customer issues,' co-founder and co-CEO Michael Karanikolas said during the company's Q1 2025 earnings call earlier this month. The company said it's still early days, but the potential for operational efficiency gains and customer service team training improvements is promising. Revolve Group is also refining its shopping experience with AI and is testing out a third-party virtual styling feature to elevate product discovery and reduce returns. While the retailer lowered its gross margin outlook for FY 2025, executives touted double-digit top-line growth during the quarter. 'We achieved these strong results while continuing to invest in key foundations for long-term success, including advancing our AI technology and personalization capabilities,' Karanikolas said. Karanikolas attributed 'huge gains' to AI and other technologies in the preceding quarters and said investments will continue. 'We think we have a lot of things that are working, a lot of investments that are going well,' Karanikolas said. 'We're always going to judge an investment on the basis of 'does the ROI on this investment look good?' rather than 'how does this investment affect the P&L statement for this current quarter?' Sign in to access your portfolio
