Williams-Sonoma, Inc. Declares $0.12 Quarterly Cash Dividend

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Tue Mar 24, 2009 7:00am EDT

SAN FRANCISCO--(Business Wire)--
Williams-Sonoma, Inc. (NYSE:WSM) today announced that its Board of Directors has
declared a quarterly cash dividend of $0.12 per common share. The dividend is
payable on May 26, 2009 to shareholders of record as of the close of business on
April 27, 2009. 

The aggregate quarterly dividend is estimated at approximately $12.7 million
based on the current number of outstanding common shares. The indicated annual
cash dividend, subject to capital availability, is $0.48 per common share, or
approximately $51.0 million, in fiscal year 2009 based on the current number of
common shares outstanding. 

Howard Lester, Chairman and Chief Executive Officer, commented, "Despite the
challenges of the current macroeconomic environment, we continue to be highly
confident in our multi-channel business model and the flexibility it can provide
in rapidly changing times. As such, we are pleased to announce today that it is
our intent to maintain our dividend at its current quarterly level of $0.12 per
share for the balance of the year, to the extent that there are no significant
changes to our business plan and our operating results are within the ranges of
the financial guidance we provided today." 

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that involve risks and
uncertainties, as well as assumptions that, if they do not fully materialize or
prove incorrect, could cause our results to differ materially from those
expressed or implied by such forward-looking statements. Such forward-looking
statements include statements related to our cash dividend, including our intent
to maintain our dividend at its current quarterly level for the balance of the
year. 

The risks and uncertainties that could cause our results to differ materially
from those expressed or implied by such forward-looking statements include
accounting adjustments as we close our books for the fourth quarter of 2008 and
as audited year-end financial statements are prepared; recent changes in general
economic conditions, and the impact on consumer confidence and consumer
spending; new interpretations of current accounting rules; changes to current
accounting rules; changes in tax laws applicable to cash dividends or share
repurchases; our ability to anticipate consumer preferences and buying trends;
dependence on timely introduction and customer acceptance of our merchandise;
construction and other delays in store openings; competition from companies with
concepts or products similar to our concepts and products; timely and effective
sourcing of merchandise from our foreign and domestic vendors and delivery of
merchandise through our supply chain to our stores and customers; effective
inventory management commensurate with customer demand; our ability to
anticipate and manage customer returns; successful catalog management, including
timing, sizing and merchandising; uncertainties in Internet marketing,
infrastructure and regulation; changes in consumer spending based on weather,
political, competitive and other conditions beyond our control; construction
delays on infrastructure projects based on weather or other events;
multi-channel and multi-brand complexities; our ability to introduce new brands
and brand extensions; dependence on external funding sources for operating
capital; disruptions in the financial markets; our ability to control
employment, occupancy and other operating costs; our ability to improve and
control our systems and processes; changes to our information technology
infrastructure; general political, economic and market conditions and events,
including war, conflict or acts of terrorism; and other risks and uncertainties
described more fully in our public announcements, reports to shareholders and
other documents filed with or furnished to the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the fiscal year ended
February 3, 2008 and all subsequent current reports on Form 8-K and quarterly
reports on Form 10-Q. All forward-looking statements in this press release are
based on information available to us as of the date hereof, and we assume no
obligation to update these forward-looking statements. 

Williams-Sonoma, Inc. is a nationwide specialty retailer of high quality
products for the home. These products, representing six distinct merchandise
strategies - Williams-Sonoma, Pottery Barn, Pottery Barn Kids, PBteen, West Elm
and Williams-Sonoma Home - are marketed through 627 stores, seven direct mail
catalogs and six e-commerce websites. 



Williams-Sonoma, Inc.
Sharon L. McCollam, 415-616-8775
Executive Vice President, COO and CFO
Stephen C. Nelson, 415-616-8754
Director, Investor Relations
Kim Khalvati, 415-616-8332
Investor Relations Administration 



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