Pottery Barn 2013 Annual Report Download - page 119
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Our Values
Everything we do revolves around our mission to enhance our customers’ lives at home. We are committed to
quality and service, and delivering an inspiring retail experience. Our core values include:
People First
We believe that our company has no limit and is driven by our associates and their imagination. We are
committed to an environment that attracts, motivates and recognizes high performance.
Customers
We are here to please our customers – without them, nothing else matters.
Quality
We take pride in everything we do. From our people to our products, and in our relationships with business
partners and our community, quality is our signature.
Stockholders
We are committed to providing a superior return to our stockholders. It’s everyone’s job.
Integrity
We do business with the highest level of integrity. Every day, in everything we do.
Corporate Responsibility
We will build sustainability into every corner of our enterprise so that our continued financial success will
enhance the lives of our many stakeholders, the communities where we have a business presence and the natural
environment upon which we rely.
Fiscal 2013 Performance Highlights
Fiscal 2013 was another year of record performance for our company. We outperformed the retail industry and
gained market share, demonstrating the structural advantage of our multi-brand, multi-channel platform.
• Net revenues increased to $4.388 billion;
• Diluted earnings per share reached $2.82;
• Direct-to-customer net revenues grew 13.1% and generated 48% of total net revenues in fiscal 2013
versus 46% in fiscal 2012; and
• Return of over $350 million to our stockholders through stock repurchases and dividends.
At the same time, we executed our strategic plan, investing in our brands and the supporting infrastructure to
ensure sustainable long-term growth both domestically and around the world. Highlights of our fiscal 2013
achievements include:
•Growth in our brands – Comparable brand revenue growth across our business in fiscal 2013 was 8.8%,
on top of 6.1% growth in fiscal 2012. Our exclusive products, great design, lifestyle positioning, and
accessible price points are allowing us to lead the market.
•Global expansion and new business development – We entered Australia and the United Kingdom with
company-owned stores and fully enabled e-commerce and distribution capabilities, expanded our
business in the Middle East through our franchise partner, and secured a new franchise partner in the
Philippines. Our new businesses – Rejuvenation and Mark and Graham – continue to develop, and we
believe are bringing new customers to these brands.
•Further regionalization of our domestic supply chain – We insourced furniture delivery hubs in three
geographies and further regionalized our retail fulfillment capabilities. We also expanded our U.S.
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