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Report Date : |
14.02.2012 |
IDENTIFICATION DETAILS
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Name : |
WILLIAMS SONOMA INC |
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Registered Office : |
2711 Centerville Road Suite 400 Wilmington Ne Castle De 19808 |
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Country : |
United States |
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Financials (as on) : |
30.01.2011 |
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Year of Establishment : |
1956 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Home furnishing stores. |
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No. of Employees : |
6,200 employees (At group level) |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
EUR 2,500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: 100.00 USD = 74.3785 EUR |
IDENTIFICATION
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Comments on data supplied: |
The adress provided is that of a corporate branch location of the
company. |
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Legal Name: |
WILLIAMS SONOMA INC |
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Legal Address |
2711 CENTERVILLE ROAD SUITE 400 WILMINGTON NE CASTLE DE 19808
(REGISTER AGENT) |
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Operative Address |
3250 Van Ness Avenue, San Francisco, CA 94109, United States
(Headquarters) |
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Telephone: |
+1 (415) 421-7900 |
ID : |
4903496 |
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Q |
+1 (415) 616-8359 |
Legal Form: |
Corporation for Profit |
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Email: |
info@williams-sonomainc.com |
Registered in: |
Delaware |
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Website: |
www.williams-sonomainc.com |
Date Created: |
1956 |
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Manager: |
Laura J. Alber, CEO |
Date Incorporated: |
March 8th, 2011 |
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Staff: |
6,200 employees (At group level) |
Stock: |
$.01 par value |
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Value: |
104,980,876 shares |
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Activity: |
Home furnishing stores. |
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BANKS
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Name of the Bank |
SUMMIT BANK |
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Name of the Bank |
FAR EAST NATIONAL BANK |
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Name of the Bank |
BANK FINANCIAL |
BUSINESS
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HISTORY |
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This company was created in the year 1956. The company’s current status in the SOS of California is “MERGED OUT”. From the company itself we could gather the following information: The company merged with W-S California. Although it kept its original
name, as of march 2011 the company was reincorporated in Delaware. Due to the recent incorporation, the SOS of Delaware does not show the
company as an active subject yet. However, it is active and doing business. |
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PRINCIPAL ACTIVITY |
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Williams-Sonoma, Inc. operates as a specialty retailer of home
products. It offers culinary and serving equipment, including cookware,
cookbooks, cutlery, informal dinnerware, glassware, table linens, and
specialty foods and cooking ingredients; and bridal and gift items under the
Williams-Sonoma brand. |
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Sales are: |
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Retail |
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Brands: |
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Luxury bedding Contemporary sofas Chandeliers Throw blanket Luxury sheets Formal dinnerware Le creuset |
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Clients: |
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General clientele |
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Operations area: |
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National, Local |
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The company imports from Worldwide depending on demand |
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The company does not export |
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Competitors: |
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Wal-Mart Stores Inc. Best Buy Co. Inc. Sears Holdings Corporation |
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Comments on staff: |
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The company has 6,200 employees at group level. The staff increased significantly compared to last year. |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is incorporated in Delaware for tax purposes. The legal address is that of the registered agent: 2711 Centerville Road
Suite 400 Wilmington New Castle DE 19808 However, it is headquartered at 3250 Van Ness Avenue, San Francisco,
CA 94109, United States. |
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Comments on location: |
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Headquarters and operative location. |
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Branches: |
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The company has several branches all over the US, including: -151 Union Street Neighborhood Embarcadero San Francisco CA 94111. -2000 CHESTNUT ST SAN FRANCISCO, CA 94123 -6401 MORRISON BLVD CHARLOTTE, NC 28211 Among many others. |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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YES |
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Capital: |
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Shares Held by All Insider and 5% Owners: 12% Shares Held
by Institutional & Mutual Fund Owners: 90% Float Held by Institutional & Mutual Fund Owners: 102% Number of Institutions Holding Shares: 279 |
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Shareholders Parent Company(ies): |
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Main Shareholders(Shares) LESTER HOWARD N/A CONNOLLY PAT 811,824 ALBER LAURA 90,173 MCCOLLAM SHARON 88,542 BELLAMY ADRIAN 73,432 Top Institutional Holders(%) Holder MARSICO CAPITAL MANAGEMENT : 8.43 LONE PINE CAPITAL, LLC: 5.66 Ameriprise Financial, Inc. : 4.88 VANGUARD GROUP, INC. (THE): 4.60 BLACKHILL CAPITAL, INC.: 4.58 Top Mutual Fund Holders(%) Columbia Fds: 4.56 PERMANENT PORTFOLIO: 2.43 FIDELITY INDEPENDENCE FUND: 1.24 VANGUARD MID-CAP INDEX FUND: 1.12 VANGUARD TOTAL INDEX FUND: 1.06 |
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Management: |
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Laura J. Alber, CEO Sharon L. Mccollam, COO Pat Connolly, CMO Richard Harvey, President Seth R. Jaffe, Sr Vice- President |
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Related Companies: |
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Subsidiaries: Pottery Barn, Inc. Williams-Sonoma DTC, Inc, California US Williams-Sonoma Canada, Inc Williams-Sonoma Gift Management, Inc., Virginia, US Williams-Sonoma UK Limited Williams-Sonoma France SARL Among many others. |
Financials - COMMERCIAL TRENDS AND FORECAST
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The subject is a public company traded at the stock exchange NYSE
under ticker symbol "WSM". Please find enclosed the financial
statements. |
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Legal Fillings |
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There are several UCC file listed with the Secretary of State
of California and Delaware, among them: The last annual report was filled on 3/31/2011. There are various claims, lawsuits, and pending actions against the
Company and its subsidiaries incident to the operations of its business. It
is the opinion of management, after consultation with counsel, that the
ultimate resolution of such claims, lawsuits and pending actions will not
have a material adverse effect on the Company’s consolidated financial
position, results of operations or liquidity. THE COMPANY IS NOT LISTED ON THE OFAC LIST.* For information: * The Specially Designated Nationals (SDN) List is a publication of
OFAC which lists individuals and organizations with whom United States
citizens and permanent residents are prohibited from doing business. ** The Uniform Commercial Code (UCC) is one of a number of uniform
acts that have been promulgated in conjunction with efforts to harmonize the
law of sales and other commercial transactions in all 50 states within the
United States of America. The UCC deals primarily with transactions involving personal property
(movable property), not real property (immovable property). It allows a creditor to notify other creditors about a debtor’s assets
used as collateral for a secured transaction by filing a public notice
(financing statement) with a particular filing office. The Uniform Commercial Code Bureau files and maintains on financial
obligations (including IRS liens) incurred by individuals (in business as a
sole proprietor), business entities and corporations. |
Rating
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Local credit bureau gave a good credit rate. The company is in Good Standing. This means that all local and federal
taxes were paid on due date. |
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Final Opinion |
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This is a big sized company with 32,000 employees at group level and
55 years of experience. The company merged with W-S California. Although it kept its original
name, as of march 2011 the company was reincorporated in Delaware. The subject is a public company that trades at the stock exchange NYSE
under ticker symbol WSM. There was also certain increase on the liabilities, though it remained
controlled as last year. In last months there were several structural changes in the company,
such as shareholders and important operating members of the group. A credit line may be considered for EUR 2,500,000 |
SUMMARY
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Profitability |
CORRECT |
Public Records |
YES |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.32 |
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1 |
Rs.77.84 |
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Euro |
1 |
Rs.65.35 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.