Williams Sonoma 3Q15 Earnings Call Notes

Gabrielle Rabinovitch – VP, IR

Laura Alber – CEO, President

15% comps at West Elm

“The West Elm brand continues to deliver exceptional results. Comparable brand revenue increased by 15.7% on top of 17.4% last year marking 23 consecutive quarters of double-digit comparable brand revenue growth.”

Human connection and data science

“Human connection still matter in the digital age and at West Elm we are successfully laying our world class customer insights with our innovative high touch shopkeeper program, balancing the science and art of retail. Data science will continue to provide invaluable insights on customer behavior and buying trends but by empowering our store managers to run their stores like small businesses and forge deep community connections through our West Elm local program, we’re essentially running the brand in the collection of unique small retailers linked with the powerful data and technology of a global enterprise.”

I’m optimistic about the holiday season

“I’m optimistic about the holiday season. Yes we have seen some retrenching this fall and retailers and even some really good retailers have given some mix reports out there but there is not a lot of good news out there too. We know that our customers love their homes and the holiday season is the time to decorate and obtain and also to be generous with gifts to your family and friends.”

Customers will shop at retailers who have a compelling product

“I believe that consumers will shop the retailers that they trust and who have compelling product and in store experiences, I think as you go to the stores whether you got to a mall or great street going to be a top lift in terms of destination.”

Julie Whalen – CFO, EVP

ecommerce is 51% of revenue

“net revenues in our ecommerce channel grew 7% or 22.7% on a two year basis to $628 million and represented 51% of net revenues with growth primarily resulting from the continued strength we’re seeing in the West Elm brand.”

Pat Connolly – Chief Strategy and Business Officer