Pottery Barn 2007 Annual Report Download - page 30

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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
Feb. 3, 2008
(53 Weeks)
Jan. 28, 2007
(52 Weeks)
Jan. 29, 2006
(52 Weeks)
Jan. 30, 2005
(52 Weeks)
Feb. 1, 2004
(52 Weeks)
Results of Operations
Net revenues $3,944,934 $3,727,513 $3,538,947 $3,136,931 $2,754,368
Net revenue growth 5.8% 5.3% 12.8% 13.9% 16.7%
Gross margin $1,535,971 $1,487,287 $1,435,482 $1,271,145 $1,110,577
Earnings before income taxes $ 316,340 $ 337,186 $ 348,798 $ 310,205 $ 255,638
Net earnings $ 195,757 $ 208,868 $ 214,866 $ 191,234 $ 157,211
Basic net earnings per share $ 1.79 $ 1.83 $ 1.86 $ 1.65 $ 1.36
Diluted net earnings per share $ 1.76 $ 1.79 $ 1.81 $ 1.60 $ 1.32
Gross margin as a percent of net revenues 38.9% 39.9% 40.6% 40.5% 40.3%
Pre-tax operating margin as a percent of net revenues18.0% 9.0% 9.9% 9.9% 9.3%
Financial Position
Working capital $ 438,241 $ 473,229 $ 492,772 $ 351,608 $ 245,005
Total assets $2,093,854 $2,048,331 $1,981,620 $1,745,545 $1,470,735
Return on assets 9.4% 10.1% 11.4% 11.9% 11.5%
Long-term debt and other long-term obligations $ 68,761 $ 32,562 $ 29,201 $ 32,476 $ 38,358
Shareholders’ equity $1,165,723 $1,151,431 $1,125,318 $ 957,662 $ 804,591
Shareholders’ equity per share (book value) $ 11.07 $ 10.48 $ 9.80 $ 8.30 $ 6.95
Return on equity 16.9% 18.3% 20.6% 21.7% 21.7%
Debt-to-equity ratio 2.2% 2.5% 3.0% 4.4% 4.6%
Annual dividends declared per share $ 0.46 $ 0.40 — — —
Retail Revenues
Retail revenue growth 5.9% 6.0% 12.3% 11.6% 13.9%
Retail revenues as a percent of net revenues 57.8% 57.8% 57.4% 57.7% 58.9%
Comparable store sales growth20.3% 0.3% 4.9% 3.5% 4.0%
Store count
Williams-Sonoma: 256 254 254 254 237
Grande Cuisine 253 248 243 238 215
Classic 3 6 11 16 22
Pottery Barn: 198 197 188 183 174
Design Studio 198 197 188 181 168
Classic ——— 26
Pottery Barn Kids 94 92 89 87 78
West Elm 27 22 12 4 1
Williams-Sonoma Home 9 7 3 — —
Outlets 16 16 16 15 14
Hold Everything — — 8 9 8
Number of stores at year-end 600 588 570 552 512
Store selling area at fiscal year-end (sq. ft.) 3,575,000 3,389,000 3,140,000 2,911,000 2,624,000
Store leased area at fiscal year-end (sq. ft.) 5,739,000 5,451,000 5,035,000 4,637,000 4,163,000
Direct-to-Customer Revenues
Direct-to-customer revenue growth 5.7% 4.5% 13.6% 17.1% 20.8%
Direct-to-customer revenues as a percent of net revenues 42.2% 42.2% 42.6% 42.3% 41.1%
Catalogs circulated during the year 393,160 379,011 385,158 368,210 328,355
Percent increase (decrease) in number of catalogs
circulated 3.7% (1.6%) 4.6% 12.1% 17.4%
Percent increase in number of pages circulated 7.9% 3.2% 9.7% 19.5% 16.8%
1Pre-tax operating margin is defined as earnings before income taxes.
2Fiscal 2007 was calculated on a 53-week to 53-week basis.
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.
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