Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands, except per share amounts
ASSETS
Current assets
Cash and cash equivalents $213,713.00 $193,647.00
Accounts receivable, net 88,803 79,304
Merchandise inventories, net 977,505 978,138
Prepaid catalog expenses 23,625 28,919
Prepaid expenses 52,882 44,654
Other assets 10,652 11,438
Total current assets 1,367,180 1,336,100
Property and equipment, net 923,283 886,813
Deferred income taxes, net 135,238 141,784
Other assets, net 51,178 52,730
Total assets $2,476,879.00 $2,417,427.00
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable $453,710.00 $447,412.00
Accrued salaries, benefits and other liabilities
130,187 127,122
Customer deposits 294,276 296,827
Income taxes payable 23,245 67,052
Other liabilities 59,838 58,014
Total current liabilities 961,256 996,427
Deferred rent and lease incentives 196,188 173,061
Other long-term obligations 71,215 49,713
Total liabilities 1,228,659 1,219,201
Commitments and contingencies - See Note I
Stockholders' equity
Preferred stock: $.01 par value; 7,500 shares authorized; none issued - -
Common stock: $.01 par value; 253,125 shares authorized;
87,325 and 89,563 shares issued and outstanding at January 29, 2017
and January 31, 2016, respectively 873 896
Additional paid-in capital 556,928 541,307
Retained earnings 701,702 668,545
Accumulated other comprehensive loss ($9,903.00) ($10,616.00)
Treasury stock - at cost: 20 and 29 shares as of January 29, 2017 and
January 31, 2016, respectively ($1,380.00) ($1,906.00)
Total stockholders' equity 1,248,220 1,198,226
Total liabilities and stockholders' equity $2,476,879.00 $2,417,427.00
Balance Sheet
Jan. 29, 2017 Jan. 31, 2016
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Cash flows from operating activities:
Net earnings $305,387.00 $310,068.00 $308,854.00
Adjustments to reconcile net earnings to net cash provided by (used in)
operating activities:
Depreciation and amortization 173,195 167,760 162,273
Loss on disposal/impairment of assets 3,806 4,339 2,410
Amortization of deferred lease incentives ($25,212.00) ($24,721.00) ($24,419.00)
Deferred income taxes 7,114 ($7,436.00) ($248.00)
Tax benefit related to stock-based awards 3,230 14,592 26,952
Excess tax benefit related to stock-based awards
($4,894.00) ($14,494.00) ($26,560.00)
Stock-based compensation expense 51,116 41,357 44,632
Other ($423.00) 149 595
Changes in:
Accounts receivable ($9,794.00) ($12,849.00) ($9,366.00)
Merchandise inventories 4,493 ($92,647.00) ($76,964.00)
Prepaid catalog expenses 5,294 5,022 ($386.00)
Prepaid expenses and other assets ($6,367.00) ($9,245.00) ($61.00)
Accounts payable 3,169 60,507 4,455
Accrued salaries, benefits and other liabilities
25,876 ($135.00) 8,867
Customer deposits ($3,037.00) 35,877 34,400
Deferred rent and lease incentives 35,559 31,334 23,297
Income taxes payable ($43,803.00) 34,548 ($17,034.00)
Net cash provided by operating activities 524,709 544,026 461,697
Cash flows from investing activities:
Purchases of property and equipment ($197,414.00) ($202,935.00) ($204,800.00)
Restricted cash receipts - - 14,289
Other 439 769 1,911
Net cash used in investing activities ($196,975.00) ($202,166.00) ($188,600.00)
Cash flows from financing activities:
Repurchases of common stock ($151,272.00) ($224,995.00) ($224,377.00)
Payment of dividends ($133,539.00) ($127,636.00) ($125,758.00)
Borrowings under revolving line of credit 125,000 200,000 90,000
Repayments of borrowings under revolving line of credit
($125,000.00) ($200,000.00) ($90,000.00)
Tax withholdings related to stock-based awards
($27,062.00) ($31,790.00) ($56,977.00)
Excess tax benefit related to stock-based awards
4,894 14,494 26,560
Proceeds related to stock-based awards 1,532 2,647 4,077
Repayment of long-term obligations - ($1,968.00) ($1,785.00)
Other ($359.00) ($135.00) ($760.00)
Cash Flow
Fiscal 2016 Fiscal 2015 Fiscal 2014
Net cash used in financing activities ($305,806.00) ($369,383.00) ($379,020.00)
Effect of exchange rates on cash and cash equivalents
($1,862.00) ($1,757.00) ($1,271.00)
Net increase (decrease) in cash and cash equivalents
20,066 ($29,280.00) ($107,194.00)
Cash and cash equivalents at beginning of year
193,647 222,927 330,121
Cash and cash equivalents at end of year $213,713.00 $193,647.00 $222,927.00
Supplemental disclosure of cash flow information:
Cash paid during the year for interest $2,202.00 $1,989.00 $1,269.00
Cash paid during the year for income taxes, net of refunds
$203,426.00 $134,478.00 $172,305.00
Non-cash investing activities:
Purchases of property and equipment not yet paid for at end of year $625.00 $2,715.00 $4,808.00
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
Fiscal 2016
4 Quarter $56.94 $45.98
3 Quarter $57.40 $45.96
2 Quarter $61.03 $47.66
1 Quarter $61.97 $49.39
Fiscal 2015
4 Quarter $75.90 $47.33
3 Quarter $89.38 $71.03
2 Quarter $85.37 $74.75
1Quarter $84.75 $73.14
High Low
High Low
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
01/29/2012 02/03/2013 02/02/2014 02/01/2015 01/31/2016 01/29/2017
Williams-Sonoma, Inc 100.0 131.0 162.4 237.6 160.1 151.4
NYSE Composite Index 100.0 116.9 133.3 144.3 135.2 162.6
S&P Retailing Index 100.0 129.2 162.6 195.5 229.7 273.2
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
Fiscal period Total Number of Shares Purchased Average Price Paid Per Share
October 31, 2016 - November 27, 2016 179,052 $49.33
November 28, 2016 - December 25, 2016 256,723 $54.46
December 26, 2016 - January 29, 2017 271,232 $49.01
Total 707,007 $51.07
Total Number of Shares Purchased as Part of a Publicly Announced
Program
Maximum Dollar Value of Shares That May Yet Be Purchased Under
the Program
179,052 $437,851,000.00
256,723 $423,871,000.00
271,232 $410,578,000.00
707,007 $410,578,000.00
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands, except percentages, per share amounts and retail stores
data
Results of Operations
Net revenues $5,083,812.00 $4,976,090.00
Net revenue growth 2.20% 5.90%
Comparable brand revenue growth 0.70% 3.70%
Gross profit $1,883,310.00 $1,844,214.00
Gross margin 37.00% 37.10%
Operating income $472,599.00 $488,634.00
Operating margin 9.30% 9.80%
Net earnings $305,387.00 $310,068.00
Basic earnings per share $3.45 $3.42
Diluted earnings per share $3.41 $3.37
Weighted average basic shares outstanding during the period
88,594 90,787
Weighted average diluted shares outstanding during the period 89,462 92,102
Financial Position
Working capital $405,924.00 $339,673.00
Total assets $2,476,879.00 $2,417,427.00
Return on assets 12.50% 13.10%
Net cash provided by operating activities $524,709.00 $544,026.00
Capital expenditures $197,414.00 $202,935.00
Long-term debt and other long-term obligations
$71,215.00 $49,713.00
Stockholders' equity $1,248,220.00 $1,198,226.00
Stockholders' equity per share (book value) $14.29 $13.38
Return on equity 25.00% 25.60%
Annual dividends declared per share $1.48 $1.40
E-commerce Net Revenues
E-commerce net revenue growth 4.40% 6.40%
E-commerce net revenues as a percent of net revenues
51.80% 50.70%
Retail Net Revenues
Retail net revenue growth (decline) (0.1%) 5.40%
Retail net revenues as a percent of net revenues
48.20% 49.30%
Number of stores at year-end 629 618
Store selling square footage at year-end 3,951,000 3,827,000
Store leased square footage at year-end 6,359,000 6,163,000
Fiscal 2016 (52 Weeks) Fiscal 2015 (52 Weeks) Fiscal 2014 (52 Weeks)
$4,698,719.00 $4,387,889.00 $4,042,870.00
7.10% 8.50% 8.70%
7.10% 8.80% 6.10%
$1,800,504.00 $1,704,216.00 $1,592,476.00
38.30% 38.80% 39.40%
$502,265.00 $452,098.00 $409,163.00
10.70% 10.30% 10.10%
$308,854.00 $278,902.00 $256,730.00
$3.30 $2.89 $2.59
$3.24 $2.82 $2.54
93,634 96,669 99,266
95,200 98,765 101,051
$515,975.00 $558,007.00 $659,645.00
$2,330,277.00 $2,336,734.00 $2,187,679.00
13.20% 12.30% 12.00%
$461,697.00 $453,769.00 $364,127.00
$204,800.00 $193,953.00 $205,404.00
$62,698.00 $61,780.00 $50,216.00
$1,224,706.00 $1,256,002.00 $1,309,138.00
$13.33 $13.35 $13.39
24.90% 21.70% 20.00%
$1.32 $1.24 $0.88
12.10% 13.10% 14.50%
50.50% 48.20% 46.20%
2.40% 4.60% 4.10%
49.50% 51.80% 53.80%
601 585 581
3,684,000 3,590,000 3,548,000
5,965,000 5,838,000 5,778,000
Fiscal 2013 (52 Weeks) Fiscal 2012 (53 Weeks)
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
E-commerce net revenues $2,633,602.00 51.80% $2,522,580.00 50.70% $2,370,694.00 50.50%
Retail net revenues 2,450,210 48.20% 2,453,510 49.30% 2,328,025 49.50%
Net revenues $5,083,812.00 100.00% $4,976,090.00 100.00% $4,698,719.00 100.00%
Fiscal 2016 % Total Fiscal 2015 % Total Fiscal 2014 % Total
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Pottery Barn $2,024,218.00 $2,074,051.00 $2,022,331.00
Williams Sonoma 1,002,194 993,609 994,651
West Elm 971,568 821,136 669,074
Pottery Barn Kids 635,381 640,073 624,594
PBteen 237,818 253,602 260,617
Other 212,633 193,619 127,452
Total $5,083,812.00 $4,976,090.00 $4,698,719.00
Fiscal 2016 Fiscal 2015 Fiscal 2014
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
Comparable brand revenue growth (decline)
Pottery Barn (3.5%) 1.90% 5.80%
Williams Sonoma 1.30% 1.10% 3.80%
West Elm 12.80% 14.80% 18.20%
Pottery Barn Kids (1.4%) 2.20% 5.90%
PBteen (6.2%) (2.7%) 5.70%
Total 0.70% 3.70% 7.10%
Fiscal 2016 Fiscal 2015 Fiscal 2014
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Retail net revenues $2,450,210.00 $2,453,510.00 $2,328,025.00
Retail net revenue growth (decline) (0.1%) 5.40% 2.40%
Store count - beginning of year 618 601 585
Store openings 29 34 35
Store closings ($18.00) ($17.00) ($19.00)
Store count - end of year 629 618 601
Store selling square footage at year-end 3,951,000 3,827,000 3,684,000
Store leased square footage ( LSF ) at year-end
6,359,000 6,163,000 5,965,000
Fiscal 2016 Fiscal 2015 Fiscal 2014
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
Williams Sonoma 234 6,600 239 6,600 243 6,600
Pottery Barn 201 13,900 197 13,800 199 13,700
West Elm 98 13,300 87 13,200 69 13,700
Pottery Barn Kids 89 7,400 89 7,500 85 7,600
Rejuvenation 7 9,100 6 9,000 5 10,000
Total 629 10,100 618 10,000 601 9,900
Fiscal 2016 Fiscal 2015 Fiscal 2014
Store Count Avg. LSF Per Store Store Count Avg. LSF Per Store Store Count Avg. LSF Per Store
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Operating leases $268,593.00 $703,308.00 $322,910.00
Purchase obligations 973,102 8,889 871
Total $1,241,695.00 $712,197.00 $323,781.00
Payments Due by Period
Fiscal 2017 Fiscal 2018 to Fiscal 2020 Fiscal 2021 to Fiscal 2022 Thereafter
$531,699.00 $1,826,510.00
- 982,862
$531,699.00 $2,809,372.00
Total
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Standby letters of credit $12,090.00 - - - $12,090.00
Letter of credit facilities 6,565 - - - 6,565
Credit facility - - - - -
Total $18,655.00 - - - $18,655.00
Amount of Outstanding Commitment Expiration By Period
Fiscal 2017 Fiscal 2018 to Fiscal 2020 Fiscal 2021 to Fiscal 2022 Thereafter Total
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands, except per share amounts Fiscal 2016 Fiscal 2015 Fiscal 2014
E-commerce net revenues $2,633,602.00 $2,522,580.00 $2,370,694.00
Retail net revenues 2,450,210 2,453,510 2,328,025
Net revenues 5,083,812 4,976,090 4,698,719
Cost of goods sold 3,200,502 3,131,876 2,898,215
Gross profit 1,883,310 1,844,214 1,800,504
Selling, general and administrative expenses 1,410,711 1,355,580 1,298,239
Operating income 472,599 488,634 502,265
Interest (income) expense, net 688 627 62
Earnings before income taxes 471,911 488,007 502,203
Income taxes 166,524 177,939 193,349
Net earnings $305,387.00 $310,068.00 $308,854.00
Basic earnings per share $3.45 $3.42 $3.30
Diluted earnings per share $3.41 $3.37 $3.24
Shares used in calculation of earnings per share:
Basic 88,594 90,787 93,634
Diluted 89,462 92,102 95,200
In thousands Fiscal 2016 Fiscal 2015 Fiscal 2014
Net earnings $305,387.00 $310,068.00 $308,854.00
Other comprehensive income (loss):
Foreign currency translation adjustments 1,523 ($7,958.00) ($9,305.00)
Change in fair value of derivative financial instruments, net of tax ($916.00) 1,074 806
Reclassification adjustment for realized (gain) loss on derivative
financial instruments, net of tax 106 ($1,184.00) ($573.00)
Comprehensive income $306,100.00 $302,000.00 $299,782.00
See Notes to Consolidated Financial Statements. Williams-Sonoma, Inc. Consolidated Statements of Comprehensive Income
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Balance at February 2, 2014 94,049 $941.00 $522,595.00 $729,043.00
Net earnings - - - 308,854
Foreign currency translation adjustments - - - -
Change in fair value of derivative financial instruments, net of tax - - - -
Reclassification adjustment for realized (gain) loss on derivative
financial instruments, net of tax - - - -
Exercise of stock-based awards and related tax effect
116 1 31,021 -
Conversion/release of stock-based awards 1,058 10 ($56,053.00) -
Repurchases of common stock ($3,332.00) ($33.00) ($13,776.00) ($210,568.00)
Reissuance of treasury stock under stock-based compensation plans - - ($1,158.00) ($737.00)
Stock-based compensation expense - - 44,632 -
Dividends declared - - - ($125,378.00)
Balance at February 1, 2015 91,891 919 527,261 701,214
Net earnings - - - 310,068
Foreign currency translation adjustments - - - -
Change in fair value of derivative financial instruments, net of tax - - - -
Reclassification adjustment for realized (gain) loss on derivative
financial instruments, net of tax - - - -
Exercise of stock-based awards and related tax effect
68 1 17,238 -
Conversion/release of stock-based awards 554 6 ($31,411.00) -
Repurchases of common stock ($2,950.00) ($30.00) ($12,646.00) ($212,319.00)
Reissuance of treasury stock under stock-based compensation plans - - ($492.00) ($128.00)
Stock-based compensation expense - - 41,357 -
Dividends declared - - - ($130,290.00)
Balance at January 31, 2016 89,563 896 541,307 668,545
Net earnings - - - 305,387
Foreign currency translation adjustments - - - -
Change in fair value of derivative financial instruments, net of tax - - - -
Reclassification adjustment for realized (gain) loss on derivative
financial instruments, net of tax - - - -
Exercise of stock-based awards and related tax effect
39 - 4,762 -
Conversion/release of stock-based awards 594 6 ($26,805.00) -
Common Stock Additional Paid-in Capital Retained Earnings
Accumulated Other
Shares Amount
Repurchases of common stock ($2,871.00) ($29.00) ($12,684.00) ($138,559.00)
Reissuance of treasury stock under stock-based compensation plans - - ($706.00) ($83.00)
Stock-based compensation expense - - 51,054 -
Dividends declared - - - ($133,588.00)
Balance at January 29, 2017 87,325 $873.00 $556,928.00 $701,702.00
$6,524.00
($3,101.00) $1,256,002.00
- - 308,854
($9,305.00) - ($9,305.00)
806 - 806
($573.00) - ($573.00)
- - 31,022
- - ($56,043.00)
- - ($224,377.00)
- 961 ($934.00)
- - 44,632
- - ($125,378.00)
($2,548.00) ($2,140.00) 1,224,706
- - 310,068
($7,958.00) - ($7,958.00)
1,074 - 1,074
($1,184.00) - ($1,184.00)
- - 17,239
- - ($31,405.00)
- - ($224,995.00)
- 234 ($386.00)
- - 41,357
- - ($130,290.00)
($10,616.00) ($1,906.00) 1,198,226
- - 305,387
1,523 - 1,523
($916.00) - ($916.00)
106 - 106
- - 4,762
- ($263.00) ($27,062.00)
Accumulated Other
Treasury Stock Total Stockholders'Equity
- - ($151,272.00)
- 789 -
- - 51,054
- - ($133,588.00)
($9,903.00) ($1,380.00) $1,248,220.00
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Balance at beginning of year $19,113.00 $14,782.00 $15,954.00
Provision for sales returns 303,694 321,421 311,911
Actual sales returns ($306,749.00) ($317,090.00) ($313,083.00)
Balance at end of year $16,058.00 $19,113.00 $14,782.00
Fiscal 2016 Fiscal 2015 Fiscal 2014
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Leasehold improvements $923,909.00 $861,852.00
Fixtures and equipment 762,379 714,911
Capitalized software 584,122 455,954
Land and buildings 172,856 172,782
Corporate systems projects in progress 52,352 115,296
Construction in progress 13,704 20,325
Total 2,509,322 2,341,120
Accumulated depreciation ($1,586,039.00) ($1,454,307.00)
Property and equipment, net $923,283.00 $886,813.00
Jan. 29, 2017 Jan. 31, 2016
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
United States
$425,517.00
$462,701.00
$482,739.00
Foreign 46,394 25,306 19,464
Total earnings before income taxes $471,911.00 $488,007.00 $502,203.00
In thousands
Current
Federal
$125,760.00
$156,812.00
$157,227.00
State 26,197 22,969 31,959
Foreign 7,453 5,594 4,411
Total current 159,410 185,375 193,597
Deferred
Federal 8,307 ($6,093.00) 2,719
State ($807.00) 1,258 ($2,547.00)
Foreign ($386.00) ($2,601.00) ($420.00)
Total deferred 7,114 ($7,436.00) ($248.00)
Total provision $166,524.00 $177,939.00 $193,349.00
Fiscal 2016 Fiscal 2015 Fiscal 2014
The provision for income taxes consists of the following:
Fiscal 2016 Fiscal 2015 Fiscal 2014
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
Federal income taxes at the statutory rate 35.00% 35.00% 35.00%
State income tax rate 3.50% 3.20% 4.00%
Other (3.2%) (1.7%) (0.5%)
Effective tax rate 35.30% 36.50% 38.50%
Fiscal 2016 Fiscal 2015 Fiscal 2014
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
Deferred tax assets (liabilities), in thousands
Customer deposits $64,776.00 $64,742.00
Merchandise inventories 32,003 31,752
Deferred rent 24,182 19,952
Accrued liabilities 23,994 17,028
Stock-based compensation 17,437 21,365
Compensation 16,781 15,776
State taxes 7,107 6,723
Executive deferred compensation 7,060 6,003
Deferred lease incentives ($36,715.00) ($36,475.00)
Depreciation ($22,477.00) ($4,527.00)
Prepaid catalog expenses ($8,726.00) ($10,883.00)
Other 10,811 11,451
Valuation allowance ($995.00) ($1,123.00)
Total deferred income tax assets, net $135,238.00 $141,784.00
Jan. 29, 2017 Jan. 31, 2016
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Balance at beginning of year
$13,290.00
$14,359.00
$10,765.00
Increases related to current year's tax positions
11,772 2,765 3,093
Increases related to prior years' tax positions
3,456 101 2,007
Decreases related to prior years' tax positions
($818.00) ($341.00) ($138.00)
Settlements ($714.00) ($2,912.00) ($1,144.00)
Lapses in statute of limitations ($1,122.00) ($682.00) ($224.00)
Balance at end of year $25,864.00 $13,290.00
$14,359.00
Fiscal 2016 Fiscal 2015 Fiscal 2014
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Rent expense $251,066.00 $224,564.00 $215,221.00
Contingent rent expense 26,980 33,985 32,699
Rent expense before deferred lease incentive income
278,046 258,549 247,920
Deferred lease incentive income ($25,298.00) ($24,679.00) ($24,420.00)
Less: sublease rental income ($558.00) ($608.00) ($560.00)
Total rent expense
$252,190.00
$233,262.00
$222,940.00
Fiscal 2016 Fiscal 2015 Fiscal 2014
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands, except per share amounts
Fiscal 2016
Basic
$305,387.00
88,594 $3.45
Effect of dilutive stock-based awards 868
Diluted $305,387.00 89,462 $3.41
Fiscal 2015
Basic $310,068.00 90,787 $3.42
Effect of dilutive stock-based awards 1,315
Diluted $310,068.00 92,102 $3.37
Fiscal 2014
Basic $308,854.00 93,634 $3.30
Effect of dilutive stock-based awards 1,566
Diluted $308,854.00 95,200 $3.24
Net Earnings Weighted Average Earnings Per Share
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
Balance at January 31, 2016 (100% vested) 634,609 $27.76
Granted - -
Converted into common stock ($222,899.00) 31.0
Cancelled - -
Balance at January 29, 2017 (100% vested) 411,710 $26.02 1.5
Shares Weighted AverageConversion Price Weighted Average Contractual Term
$8,844,000.00
Intrinsic Value
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
Balance at January 31, 2016 2,288,958 $60.89
Granted 1,159,211 59.2
Released ($976,110.00) 52.3
Cancelled ($239,573.00) 60.7
Balance at January 29, 2017 2,232,486 $63.75 3.1
Vested plus expected to vest at January 29, 2017
1,520,660 $63.96 3.1
Shares Weighted Average Grant Date Fair Value Weighted Average Contractual Term
$106,043,000.00
$72,231,000.00
Intrinsic Value
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Fiscal 2016
Net revenues $2,633,602.00 $2,450,210.00 $- $5,083,812.00
Depreciation and amortization expense 31,135 86,228 55,832 173,195
Operating income (loss) 606,286 231,929 ($365,616.00) 472,599
Assets 614,213 1,077,593 785,073 2,476,879
Capital expenditures 21,479 102,859 73,076 197,414
Fiscal 2015
Net revenues $2,522,580.00 $2,453,510.00 $- $4,976,090.00
Depreciation and amortization expense 32,056 83,027 52,677 167,760
Operating income (loss) 562,081 239,288 ($312,735.00) 488,634
Assets 625,951 1,049,892 741,584 2,417,427
Capital expenditures 22,293 102,717 77,925 202,935
Fiscal 2014
Net revenues $2,370,694.00 $2,328,025.00
$ -
$4,698,719.00
Depreciation and amortization expense 32,116 80,154 50,003 162,273
Operating income (loss) 560,396 248,535 ($306,666.00) 502,265
Assets 600,503 1,028,293 701,481 2,330,277
Capital expenditures 41,633 97,247 65,920 204,800
E-commerce Retail Unallocated Total
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Net gain (loss) recognized in OCI ($1,243.00) $1,454.00 $1,153.00
Net gain (loss) reclassified from OCI to cost of goods sold
($147.00) $1,605.00 $573.00
Net foreign exchange gain (loss) recognized in selling, general and
administrative expenses:
Instruments designated as cash flow hedges ($4.00) ($66.00) ($155.00)
Instruments not designated or de-designated ($3,569.00) $2,838.00 ($1,795.00)
Fiscal 2016 Fiscal 2015 Fiscal 2014
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Derivatives designated as cash flow hedges:
Other current assets $241.00 $866.00
Other long-term assets $21.00 $-
Other current liabilities ($230.00) ($115.00)
Derivatives not designated as hedging instruments:
Other current assets $111.00 $-
Other current liabilities $- ($471.00)
Jan. 29, 2017 Jan. 31, 2016
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
In thousands
Balance at February 2, 2014
$5,783.00
$741.00
Foreign currency translation adjustments ($9,305.00) -
Change in fair value of derivative financial instruments
- 806
Reclassification adjustment for realized (gain) loss on derivative
financial instruments - ($573.00)
Other comprehensive income (loss) ($9,305.00) 233
Balance at February 1, 2015 ($3,522.00) 974
Foreign currency translation adjustments ($7,958.00) -
Change in fair value of derivative financial instruments
- 1,074
Reclassification adjustment for realized (gain) loss on derivative
financial instruments - ($1,184.00)
Other comprehensive income (loss) ($7,958.00) ($110.00)
Balance at January 31, 2016 ($11,480.00) 864
Foreign currency translation adjustments 1,523 -
Change in fair value of derivative financial instruments
- ($916.00)
Reclassification adjustment for realized (gain) loss on derivative
financial instruments - 106
Other comprehensive income (loss) 1,523 ($810.00)
Balance at January 29, 2017 ($9,957.00) $54.00
Foreign Currency Translation Cash Flow Hedges
$6,524.00
($9,305.00)
806
($573.00)
($9,072.00)
($2,548.00)
($7,958.00)
1,074
($1,184.00)
($8,068.00)
($10,616.00)
1,523
($916.00)
106
713
($9,903.00)
Accumulated Other Comprehensive Income (Loss)
Company Name: Williams-Sonoma, Inc.
Form Type: 10-K
Filed On: 3/30/2017
Fiscal 2016 First Quarter Second Quarter Third Quarter Fourth Quarter
Net revenues $1,097,817.00 $1,159,029.00 $1,245,385.00 $1,581,581.00
Gross profit 392,517 410,539 458,223 622,031
Operating income 63,525 83,276 109,979 215,819
Net earnings 39,597 51,785 69,378 144,627
Basic earnings per share $0.44 $0.58 $0.78 $1.65
Diluted earnings per share $0.44 $0.58 $0.78 $1.63
Fiscal 2015 First Quarter Second Quarter Third Quarter Fourth Quarter
Net revenues $1,030,676.00 $1,127,028.00 $1,232,082.00 $1,586,304.00
Gross profit 378,841 406,625 451,188 607,560
Operating income 71,928 83,343 110,683 222,680
Net earnings 44,790 53,668 70,482 141,128
Basic earnings per share $0.49 $0.59 $0.78 $1.57
Diluted earnings per share $0.48 $0.58 $0.77 $1.55
In thousands, except per share amounts
Full Year
$5,083,812.00
1,883,310
472,599
305,387
$3.45
$3.41
Full Year
$4,976,090.00
1,844,214
488,634
310,068
$3.42
$3.37
