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Williams-Sonoma, Inc. Extends Temporary Store Closures

03/31/2020

SAN FRANCISCO--(BUSINESS WIRE)-- Williams-Sonoma, Inc. (NYSE: WSM), a leading home specialty retailer of high-quality, sustainable products for the home, announced today that in response to the continued efforts to contain the COVID-19 pandemic, it will extend the temporary closure of all U.S. and Canada stores for an additional two weeks.

“As the coronavirus outbreak continues, we are highly focused on all of our stakeholders. We have made the decision to keep our stores in North America closed for an additional two weeks and we will continue to pay our store associates for their scheduled time and provide benefits through these two weeks of extended closures, just as we have since March 18 when the store closures first came into effect. Our people are our most important asset and we are proud of the agility, creativity and commitment they have shown to keep us connected to our customers during this challenging time,” said Laura Alber, President and Chief Executive Officer.

All of Williams-Sonoma’s corporate offices remain closed with associates working from home. The company will continue to pay its corporate employees and has reassigned individuals whose previous jobs were related to retail or who could not work from home. Associates in the company’s distribution centers are continuing operations to support our e-commerce business so customers can continue to shop online. The company is paying these associates bonuses for their work during this critical time, and closely following CDC guidelines for health and safety, including social distancing and increased levels of sanitation.

Alber continued, “We are following the COVID-19 situation closely, taking into account available guidance provided by government and public health officials, and adjusting our response strategies, with our associates, customers and community at the center of everything we do. With our committed team, our resilient balance sheet and strong e-commerce business at over 56% of total revenues, we are in a strong position to address the near-term challenges and we look forward to welcoming our customers back to our stores.”

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 are proven incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements include statements relating to our plans for reopening stores and our plans to continue to operate our e-commerce sites. The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include the risk that we are unable to open stores as currently planned, the scope and duration of the COVID-19 coronavirus and its impact on customer demand, and our ability to continue to operate our e-commerce sites uninterrupted.

ABOUT WILLIAMS-SONOMA, INC.

Williams-Sonoma, Inc. is a specialty retailer of high-quality products for the home. These products, representing distinct merchandise strategies — Williams Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, Pottery Barn Teen, Williams Sonoma Home, Rejuvenation, and Mark and Graham — are marketed through e-commerce websites, direct-mail catalogs and retail stores. These brands are also part of The Key Rewards, our free-to-join loyalty program that offers members exclusive benefits across the Williams-Sonoma family of brands. We operate in the U.S., Puerto Rico, Canada, Australia and the United Kingdom, offer international shipping to customers worldwide, and have unaffiliated franchisees that operate stores in the Middle East, the Philippines, Mexico and South Korea, as well as e-commerce websites in certain locations. In 2017, we acquired Outward, Inc., a 3-D imaging and augmented reality platform for the home furnishings and décor industry.

WSM-PR

Elise Wang
Investor Relations & Corporate Public Relations
(415) 616 8571

Source: Williams-Sonoma, Inc.

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