Williams-Sonoma 3Q14 Earnings Call Notes

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. Full transcripts can be found at Seeking Alpha

Solid growth

“Solid performance across our brands allowed us to deliver these results with revenue growth of 8.7%, operating margin expansion and earnings per share growth of 17.2%.”

Going to be more competitive than last year

“There is no question the holiday season will be even more competitive than last year. But I also believe ecommerce will set new sales record and with over 50% of our revenue in ecommerce, I believe we have a competitive advantage.’

The west coast port stuff could be really disruptive

“The bigger concern is obviously, if this West Coast port slowdown continues or deteriorates, we do have strategies in place to help mitigate the potential impact and of course, our teams have been watching the slowdown and planning for it, since the labor contract actually even expired. And although we are 100% confident and our teams ability to navigate this to help minimize its impact on our inventory, we are hopeful that there will be a solution soon because given the volume of goods that pass through the West Coast port longer term which isn’t good for anybody.”

People have been ready for Christmas earlier this year

“I’d say the thing that I’m really noticing is that people have been ready for Christmas earlier this year. And we’ve seen really nice response to our guests already”

Stores and ecommerce play off of each other

“In terms of the interplay between ecommerce and our stores. We really believe that when you go have a great experience in one of our stores, you are going to be more confident shopping online. And that something that people who don’t have stores – don’t have the same advantage particularly during the gift giving time of the year, when you want to be sure that you are really buying that that thoughtful gift for the people on your list.”