The income statements for Williams-Sonoma, Inc., for the fiscal years ended February 1, 2009, and February 3, 2008, are shown here. Compare the company’s performance for the two years. Is the company controlling its cost of inventory? Is the company controlling its other expenses well? Be able to support youranswers.

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Williams-Sonoma, Inc. Consolidated Statements of Earnings Fiscal Year Ended Feb. 1, 2009 (52 Weeks) Feb. 3, 2008 (63 Weeks) Dollars in thousands) Net revenues $3,944,934 2,408,963 1,535,97I 1,222,573 (5,041) 2,099 316,340 120,583 S 195,757 Gross margin-.. Selling, general and administrative expenses... 1,093,019 (1,280) 1,480 41,953 11,929 Earnings before income taxes . Income taxes.... .. ..._... _ . .