Pottery Barn 2011 Annual Report Download - page 43

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Percentages represent changes in comparable brand revenue compared to the same period in the prior year.
Comparable brand revenue growth (decline) Fiscal 2011 Fiscal 2010 Fiscal 2009
Pottery Barn 7.6% 17.7% (11.1%)
Williams-Sonoma (0.3%) 5.0% (3.2%)
Pottery Barn Kids 7.4% 16.4% (12.0%)
West Elm 30.3% 20.8% (21.7%)
PBteen 7.4% 21.1% (4.7%)
Total 7.3% 13.9% (9.3%)
DIRECT-TO-CUSTOMER NET REVENUES
Dollars in thousands Fiscal 2011 Fiscal 2010 Fiscal 2009
Direct-to-customer net revenues $1,632,811 $1,452,572 $1,224,670
Direct-to-customer net revenue growth (decline) 12.4% 18.6% (12.5%)
E-commerce net revenue growth (decline) 17.9% 26.9% (8.7%)
E-commerce net revenues as a percent of direct-to-customer
net revenues 86.4% 82.4% 77.0%
Percent increase (decrease) in number of catalogs circulated (2.1%) 1.1% (16.4%)
Percent decrease in number of pages circulated (2.6%) (1.3%) (21.1%)
Direct-to-customer net revenues in fiscal 2011 increased by $180,239,000, or 12.4%, compared to fiscal 2010.
This increase was driven by growth across all brands, led by Pottery Barn, West Elm and Pottery Barn Kids. In
e-commerce, net revenues increased 17.9% to $1,410,236,000 in fiscal 2011, compared to $1,196,613,000 in
fiscal 2010.
Direct-to-customer net revenues in fiscal 2010 increased by $227,902,000, or 18.6%, compared to fiscal 2009.
This increase was driven by 26.9% growth in e-commerce net revenues in fiscal 2010 compared to fiscal 2009.
Increased net revenues during fiscal 2010 were driven by the Pottery Barn, Pottery Barn Kids and PBteen brands.
RETAIL NET REVENUES AND OTHER DATA
Dollars in thousands Fiscal 2011 Fiscal 2010 Fiscal 2009
Retail net revenues $2,088,084 $2,051,586 $1,878,034
Retail net revenue growth (decline) 1.8% 9.2% (4.3%)
Comparable store sales growth (decline) 3.5% 9.8% (5.1%)
Number of stores – beginning of year 592 610 627
Number of new stores 5 4 9
Number of acquired stores13——
Number of new stores due to remodeling21078
Number of closed stores due to remodeling2(7) (5) (11)
Number of permanently closed stores (27) (24) (23)
Number of stores – end of year 576 592 610
Store selling square footage at year-end 3,535,000 3,609,000 3,763,000
Store leased square footage (“LSF”) at year-end 5,743,000 5,831,000 6,081,000
1On November 1, 2011, we acquired Rejuvenation, Inc. See Note N to our consolidated financial statements.
2Remodeled stores are defined as those stores temporarily closed and subsequently reopened during the year due to square
footage expansion, store modification or relocation.
29
Form 10-K