Pottery Barn 2004 Annual Report Download - page 15

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PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
MARKET INFORMATION
Our common stock is traded on the New York Stock Exchange, or the NYSE, under the symbol WSM. The
following table sets forth the high and low closing prices of our common stock on the NYSE for the periods
indicated.
Fiscal 2004 High Low
1st Quarter $34.56 $30.68
2nd Quarter $32.96 $28.79
3rd Quarter $38.33 $29.46
4th Quarter $41.21 $33.55
Fiscal 2003 High Low
1st Quarter $26.38 $20.37
2nd Quarter $30.68 $25.71
3rd Quarter $35.33 $26.93
4th Quarter $37.15 $31.75
The closing sales price of our common stock on the NYSE on March 22, 2005 was $36.59. See Quarterly
Financial Information on page 59 of this Annual Report on Form 10-K for the quarter-end closing sales price of
our common stock for each quarter above.
SHAREHOLDERS
The number of shareholders of record of our common stock as of March 22, 2005 was approximately 516. This
number excludes shareholders whose stock is held in nominee or street name by brokers.
DIVIDEND POLICY
We have never declared or paid a cash dividend on our common stock.
Additional information required by Item 5 is contained in Notes H and I to the Consolidated Financial Statements
in this Annual Report on Form 10-K.
EQUITY COMPENSATION PLAN INFORMATION
The information required by this Item regarding equity compensation plans is incorporated by reference to the
information set forth in Item 12 of this Annual Report on Form 10-K.
STOCK REPURCHASE PROGRAM
In May 2004, the Board of Directors authorized a stock repurchase program to acquire up to 2,500,000 shares of
our outstanding common stock. During fiscal 2004, we repurchased and retired 2,057,700 shares of our common
stock under this program, in addition to 215,000 shares under our previously authorized stock repurchase
program, at a total cost of approximately $79,320,000, a weighted average cost of $34.90 per share. As of
year-end, the remaining authorized number of shares eligible for repurchase was 442,300 shares. Stock
repurchases under this program may be made through open market and privately negotiated transactions at times
and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will
depend on a variety of factors including price, corporate and regulatory requirements and other market
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