Williams Sonoma, which operated 614 stores largely across the Williams Sonoma, Pottery Barn and West Elm banners at the end of its third quarter, announced last week plans to close approximately 40 stores this year with more planned in the years ahead. "We have half of our leases coming up for renewal in the next three years, and we'll be looking at each lease and keep only those stores where the economics of the deal makes sense and where they are brand enhancing," said Julie Whalen, CFO, on its quarterly conference call. "Stores continue to be a competitive advantage as people like to see merchandise in-person.