"When we price the goods the first time, we want you to say, 'wow, that's a great price, and how gorgeous is that product?'"
Williams-Sonoma beat earnings and raised its outlook, sending shares to a new all-time high to finish up 27.54% by close.
Alber critiqued the short-term promotion and discount pricing strategy sometimes used by other retailers, saying this approach isn't successful in the long term, as customers become "trained to wait for that promotion."
She suggested customers trust the "pricing integrity" of Williams-Sonoma when it initially prices items.
Williams-Sonoma is known as a high-end brand, but Alber claimed the company's prices are attainable.
Persons:
Laura Alber, CNBC's Jim Cramer, Williams, Alber, they're
Organizations:
Williams, Sonoma
Locations:
Sonoma