“This buildup in cash, along with the renewal and expansion of our global credit facility, put us into a very strong position going into our new fiscal year, and to weather the growing economic uncertainty driven by the COVID-19 pandemic,” the company’s Senior Vice President and CFO Dave Sylvester said in a public statement. conversion. However, Knoll will also be attempting to reduce operating costs going forward by closing a facility in Michigan and laying off 75 workers this year. https://www.businesswire.com/news/home/20200826005662/en/, Julie Whalen EVP, Chief Financial Officer – (415) 616 8524 © 2020 Condé Nast. To deal with the crisis, RH says it will defer new business introductions and spending, and work to reduce costs while pursuing new debt financing so the business can “take advantage of the many opportunities that will exist in this dislocated market,” according to a statement from the company. Pottery Barn also sells its wares by catalog and online. The call, hosted by Laura Alber, President and Chief Executive Officer, will be open to the general public via live webcast and can be accessed at http://ir.williams-sonomainc.com/events. Net revenue of Williams-Sonoma's e-commerce segment worldwide, Net revenue growth of Williams-Sonoma's West Elm brand worldwide, Selling square footage of Williams-Sonoma stores worldwide, Number of stores of Williams-Sonoma worldwide. At the close of its business year 2020 on February 28, Steelcase enjoyed its highest annual revenue and operating income in nearly 20 years, according to the contract furniture company’s CEO, Jim Keane. Condensed Consolidated Balance Sheets (unaudited), Borrowings under revolving line of credit, Preferred stock: $.01 par value; 7,500 shares authorized; none issued, Common stock: $.01 par value; 253,125 shares authorized; 77,796, 77,137 and 78,203 shares issued and outstanding at August 2, 2020, February 2, 2020 and August 4, 2019, respectively, Total liabilities and stockholders’ equity, Condensed Consolidated Statement of Cash Flows (unaudited). indicators like Searchmetrics Visibility Score and Rank as well Net revenue growth of 8.8% to $1.491 billion, driven by a significant acceleration in e-commerce revenue growth to approximately 46%, E-commerce penetration reached an all-time high of almost 76% of total company revenues, Demand comparable brand revenue growth of almost 19%, which includes orders placed but not yet filled in the quarter (See Exhibit 1), Net comparable brand revenue growth of 10.5%, with sequential and year-over-year acceleration in nearly all brands, including Williams Sonoma at a record 29.4%, Pottery Barn at 8.1% and West Elm at 7.0%, Gross margin expansion of 160bps, driven by higher year-over-year merchandise margins and occupancy leverage, Occupancy costs were $166 million, down 5.8% from last year and leveraging 170bps, GAAP SG&A leverage of approximately 450bps; non-GAAP SG&A leverage of approximately 460bps, reflecting substantially higher advertising ROI and the positive impact of cost reductions across the business, combined with the strength of our topline performance, GAAP operating margin of 12.4%; non-GAAP operating margin of 13.1%, nearly double that of last year and the highest quarterly operating margin performance outside of a holiday fourth quarter, GAAP diluted EPS of $1.70; non-GAAP diluted EPS of $1.80, nearly 107% higher than last year, Maintains strong liquidity position of $948 million in cash, including approximately $216 million in operating cash flow resulting from our strong Q2 20 performance, Board of Directors declares quarterly cash dividend of $0.48 per common share, reflecting strong commitment to shareholder returns, Total net revenues growth of mid to high single digits, Above-industry average ROIC (See Exhibit 1).

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