Pottery Barn 2006 Annual Report Download - page 8

Download and view the complete annual report

Please find page 8 of the 2006 Pottery Barn annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

A Vision for the Future
In 2006, we celebrated the 50th anniversary of the opening of our first Williams-Sonoma store. Now, fifty years
later, we have grown from a single store to a multi-channel retailer with a portfolio of brands. And together, these
great brands fulfill our vision of “enhancing our customers’ lives at home.” Whether the customer is shopping in
our retail stores, ordering from our catalogs, or purchasing from our e-commerce websites, we are committed to
providing a superior customer experience and driving our business to a new level. And we are able to do so
because of the spirit and dedication of our associates, vendors, customers, and shareholders.
Along with our management team, we thank you for your continued support.
W. Howard Lester
Chairman of the Board of Directors and Chief Executive Officer
This letter contains forward-looking statements. Please see the section titled “Forward-Looking Statements” on
page 1 of our Annual Report on Form 10-K for the fiscal year ended January 28, 2007, which is part of this
Annual Report to Shareholders, for important cautionary language regarding these statements.
This letter contains certain non-GAAP financial measures which exclude the impact of the implementation of
FAS 123R and FSP FAS 13-1 and certain unusual business events, including the impact of the CEO departure
charge, the benefit of unredeemed gift certificate income, the benefit of the VISA/MasterCard litigation
settlement in fiscal 2006 and the impact of the Hold Everything consolidation charge in fiscal years 2005 and
2006. Please see our Annual Report on Form 10-K for the fiscal year ended January 28, 2007, which is part of
this Annual Report to Shareholders, for information about the comparable GAAP financial measures.