Modern home-furnishing chain West Elm, owned by Williams-Sonoma Inc. (WSM - Free Report) , announced a partnership with home audio system developer Sonos.
Under the agreement, Sonos’ sound system will hit all West Elm stores by spring 2017 and is now available on its website. Also, “Sonos listening labs” will be installed in 16 West Elm stores. Here, shoppers will be able to experience Sonos home sound system products in a room fitted with West Elm’s signature modern furnishings and accessories.
Sonos is the third addition to West Elm’s portfolio after West Elm Hotels and Whole Foods’ product line this quarter. This can be seen as Williams-Sonoma’s strategy to counter competition from industry peers like At Home Group Inc. (HOME - Free Report) , Haverty Furniture Companies Inc. (HVT - Free Report) and Fortune Brands Home & Security, Inc. (FBHS - Free Report) .
Management at West Elm believes that well-designed products and innovative technology make an impact in any field. Thus, Sonos’ best-in-class speakers would help to further its vision of enhancing customers’ in-store experience.
Overall comparable brand revenues grew 0.6% in the second, quarter largely due to West Elm. Comparable brand revenues for West Elm increased 15.8% compared to the 15.7% rise in the prior-year quarter, courtesy of strong performance by its core furniture business.
Williams-Sonoma currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
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