Pottery Barn 2011 Annual Report Download - page 41

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franchised stores, including the addition of the Williams-Sonoma, PBteen and West Elm brands in fiscal 2012. In
2012, we will also begin investing in our multi-channel, fully integrated, global IT platform. This is a multi-year
project that will foundationally support our broader global strategy.
In order to support these long-term e-commerce, global expansion, supply chain and other business development
growth strategies, we expect our fiscal 2012 capital investment to be in the range of $200,000,000 to
$220,000,000 and to invest an additional $15,000,000 to $20,000,000 in incremental selling, general and
administrative expenses. Including all of these investments, in fiscal 2012 (a 53-week year), we expect net
revenues to increase in the range of 6% to 8% and diluted earnings per share to be in the range of $2.37 to $2.47
with more than $240,000,000 expected to be returned to stockholders through share repurchases and dividends.
27
Form 10-K