Williams-Sonoma's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Williams-Sonoma (WSM)

Q4 2011 Earnings Call

March 08, 2012 10:00 am ET


Stephen C. Nelson - Vice President of Investor Relations

Laura J. Alber - Chief Executive Officer, President, Director and Member of Incentive Award Committee

Julie Whalen -


Budd Bugatch - Raymond James & Associates, Inc., Research Division

Colin McGranahan - Sanford C. Bernstein & Co., LLC., Research Division

Matthew J. Fassler - Goldman Sachs Group Inc., Research Division

Brian W. Nagel - Oppenheimer & Co. Inc., Research Division

Joseph I. Feldman - Telsey Advisory Group LLC

Neely J.N. Tamminga - Piper Jaffray Companies, Research Division

Matthew McGinley - ISI Group Inc., Research Division

Helen Pan - Barclays Capital, Research Division

Christine Rapalje

Anthony C. Chukumba - BB&T Capital Markets, Research Division

Scot Ciccarelli - RBC Capital Markets, LLC, Research Division

Jason Campbell - KeyBanc Capital Markets Inc., Research Division

Peter S. Benedict - Robert W. Baird & Co. Incorporated, Research Division

Kate McShane - Citigroup Inc, Research Division



Ladies and gentlemen, thank you for standing by. Welcome to the Williams-Sonoma, Inc., Fourth Quarter and Fiscal Year 2011 Earnings and Fiscal Year 2012 Guidance Conference Call. [Operator Instructions] This conference is being recorded. I would now like to turn the call over to Steve Nelson, Vice President of Investor Relations, to discuss non-GAAP measures and forward-looking statements.

Stephen C. Nelson

Good morning. This morning's conference call should be considered in conjunction with the press releases that we issued earlier today.

Our press releases and this call contain non-GAAP financial measures that exclude the impact of unusual business events. These non-GAAP financial measures are provided to facilitate meaningful year-over-year comparisons. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures, and an explanation of why these non-GAAP financial measures are useful, are discussed in Exhibit 1 and elsewhere in the earnings release.

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