Pottery Barn 2008 Annual Report Download - page 18

we have registered and maintain numerous Internet domain names, including “williams-sonoma.com,”
“potterybarn.com,” “potterybarnkids.com,” “pbteen.com,” “westelm.com,” “wshome.com,” and “williams-
sonomainc.com.” Collectively, the trademarks, copyrights, trade dress rights and domain names that we hold are
of material importance to us.
EMPLOYEES
As of February 1, 2009, we had approximately 30,000 employees of whom, approximately 6,300 were full-time.
During the fiscal 2008 peak season (defined as the period from October through December), we hired
approximately 9,200 temporary employees in our retail stores, care centers and distribution centers. Our full-time
headcount as of year-end has decreased in fiscal 2008 compared to fiscal 2007 by approximately 2,000
employees primarily due to an 18% reduction in company-wide full-time headcount (approximately 1,400
positions) during the fourth quarter associated with our infrastructure cost reduction initiative. See Note N to our
Consolidated Financial Statements.
AVAILABLE INFORMATION
We file annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, proxy and
information statements and amendments to reports filed or furnished pursuant to Sections 13(a), 14 and 15(d) of
the Securities Exchange Act of 1934, as amended. The public may read and copy these materials at the SEC’s
Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. The public may obtain information on
the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC also maintains a
website at www.sec.gov that contains reports, proxy and information statements and other information regarding
Williams-Sonoma, Inc. and other companies that file materials with the SEC electronically. You may also obtain
copies of our annual reports, Forms 10-K, Forms 10-Q, Forms 8-K and proxy and information statements, free of
charge, on our website at www.williams-sonomainc.com.
ITEM 1A. RISK FACTORS
A description of the risks and uncertainties associated with our business is set forth below. You should carefully
consider such risks and uncertainties, together with the other information contained in this report and in our other
public filings. If any of such risks and uncertainties actually occurs, our business, financial condition or operating
results could differ materially from the plans, projections and other forward-looking statements included in the
section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and
elsewhere in this report and in our other public filings. In addition, if any of the following risks and uncertainties,
or if any other risks and uncertainties, actually occurs, our business, financial condition or operating results could
be harmed substantially, which could cause the market price of our stock to decline, perhaps significantly.
The recent changes in general economic conditions, and the resulting impact on consumer confidence and
consumer spending, could adversely impact our results of operations.
Our financial performance is subject to changes in general economic conditions and the impact of such economic
conditions on levels of consumer confidence and consumer spending. Recently, consumer confidence and
consumer spending have deteriorated significantly, and could remain depressed for an extended period of time.
Consumer purchases of discretionary items, including our merchandise, generally decline during periods where
disposable income is adversely affected, unemployment rates increase or there is economic uncertainty. The
current economic environment could cause our vendors to go out of business or our banks to discontinue lending
us money or it could cause us to undergo additional restructurings, any of which would adversely impact our
business and operating results.
We are unable to control many of the factors affecting consumer spending, and declines in consumer spending on
home furnishings in general could reduce demand for our products.
Our business depends on consumer demand for our products and, consequently, is sensitive to a number of
factors that influence consumer spending, including general economic conditions, disposable consumer income,
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