Pottery Barn 2012 Annual Report Download - page 20

EMPLOYEES
As of February 3, 2013, we had approximately 26,800 employees of whom approximately 7,200 were full-time.
During the fiscal 2012 peak season (defined as the period from October through December), we hired approximately
9,800 temporary employees primarily in our retail stores, customer care centers and distribution centers.
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. Our annual reports,
Forms 10-K, Forms 10-Q, Forms 8-K and proxy and information statements are also available, 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 declines in general economic conditions over the past few years, and the resulting impact on consumer
confidence and consumer spending, could adversely impact our results of operations.
Our financial performance is subject to declines in general economic conditions and the impact of such economic
conditions on levels of consumer confidence and consumer spending. Consumer confidence and consumer
spending may deteriorate significantly, and could remain depressed for an extended period of time. Consumer
purchases of discretionary items, including our merchandise, generally decline during periods when disposable
income is limited, unemployment rates increase or there is economic uncertainty. An uncertain economic
environment, such as the one we experienced during the 2008-2009 downturn, could cause our vendors to go out
of business or our banks to discontinue lending to us or our vendors, 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 and kitchen products 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, consumer disposable income,
fuel prices, recession and fears of recession, unemployment, war and fears of war, inclement weather, such as
Hurricane Sandy, availability of consumer credit, consumer debt levels, conditions in the housing market, interest
rates, sales tax rates and rate increases, inflation, consumer confidence in future economic conditions and
political conditions, and consumer perceptions of personal well-being and security. In particular, the 2008-2009
economic downturn led to decreased discretionary spending, which adversely impacted our business. In addition,
a decrease in home purchases has led and may continue to lead to decreased consumer spending on home
products. These factors have affected our various brands and channels differently. Adverse changes in factors
affecting discretionary consumer spending have reduced and may continue to further reduce consumer demand
for our products, thus reducing our sales and harming our business and operating results.
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