Pottery Barn 2005 Annual Report Download - page 31

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ITEM 6. SELECTED FINANCIAL DATA
Five-Year Selected Financial Data
Dollars and amounts in thousands, except percentages,
per share amounts and retail stores data Jan. 29, 2006 Jan. 30, 2005 Feb. 1, 2004 Feb. 2, 2003 Feb. 3, 20021
Results of Operations
Net revenues $3,538,947 $3,136,931 $2,754,368 $2,360,830 $2,086,662
Net revenue growth 12.8% 13.9% 16.7% 13.1% 14.1%
Gross margin $1,435,482 $1,271,145 $1,110,577 $ 951,601 $ 793,989
Earnings before income taxes $ 348,798 $ 310,205 $ 255,638 $ 202,282 $ 122,106
Net earnings $ 214,866 $ 191,234 $ 157,211 $ 124,403 $ 75,096
Basic net earnings per share $ 1.86 $ 1.65 $ 1.36 $ 1.08 $ 0.67
Diluted net earnings per share $ 1.81 $ 1.60 $ 1.32 $ 1.04 $ 0.65
Gross margin as a percent of net revenues 40.6% 40.5% 40.3% 40.3% 38.1%
Pre-tax operating margin as a percent of net revenues29.9% 9.9% 9.3% 8.6% 5.9%
Financial Position
Working capital $ 492,772 $ 351,608 $ 245,005 $ 200,556 $ 120,060
Total assets $1,981,620 $1,745,545 $1,470,735 $1,264,455 $ 994,903
Return on assets 11.4% 11.9% 11.5% 11.0% 8.3%
Long-term debt and other long-term obligations $ 29,201 $ 32,476 $ 38,358 $ 23,217 $ 29,307
Shareholders’ equity $1,125,318 $ 957,662 $ 804,591 $ 643,978 $ 532,531
Shareholders’ equity per share (book value) $ 9.80 $ 8.30 $ 6.95 $ 5.63 $ 4.65
Return on equity 20.6% 21.7% 21.7% 21.1% 15.6%
Debt-to-equity ratio 3.0% 4.4% 4.6% 4.0% 6.0%
Retail Revenues
Retail revenue growth 12.3% 11.6% 13.9% 15.1% 18.3%
Retail revenues as a percent of net revenues 57.4% 57.7% 58.9% 60.3% 59.3%
Comparable store sales growth 4.9% 3.5% 4.0% 2.7% 1.7%
Store count
Williams-Sonoma: 254 254 237 236 214
Grande Cuisine 243 238 215 204 176
Classic 11 16 22 32 38
Pottery Barn: 188 183 174 159 145
Design Studio 188 181 168 153 137
Classic — 266 8
Pottery Barn Kids 89 87 78 56 27
Hold Everything 8 9 8 13 15
West Elm 12 4 1 — —
Williams-Sonoma Home 3 — — — —
Outlets 16 15 14 14 14
Number of stores at year-end 570 552 512 478 415
Store selling area at fiscal year-end (sq. ft.) 3,140,000 2,911,000 2,624,000 2,356,000 2,012,000
Store leased area at fiscal year-end (sq. ft.) 5,035,000 4,637,000 4,163,000 3,725,000 3,179,000
Direct-to-Customer Revenues
Direct-to-customer revenue growth 13.6% 17.1% 20.8% 10.2% 8.4%
Direct-to-customer revenues as a percent of net revenues 42.6% 42.3% 41.1% 39.7% 40.7%
Catalogs circulated during the year 385,158 368,210 328,355 279,724 245,224
Percent growth in number of catalogs circulated 4.6% 12.1% 17.4% 14.1% 5.2%
Percent growth in number of pages circulated 9.7% 19.5% 16.8% 16.1% 1.4%
1The fiscal year ended February 3, 2002 included 53 weeks.
2Pre-tax operating margin is defined as earnings before income taxes.
The information set forth above is not necessarily indicative of future operations and should be read in
conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and
the Consolidated Financial Statements and notes thereto in this Annual Report on Form 10-K.
19
Form 10-K