P Charm and N Charm

ERIC TRACY, ANALYST, FBR CAPITAL MARKETS: Good N Charm and I will add my congrats as well. So, Ken, maybe if I could focus on the unit growth now, sort of expectation for next year. Obviously it changed over recent years.Maybe just sort of O Charm to that, the level of I guess lease renegotiations are playing in that decision making as well as just the overall productivity of the base. And then maybe talk about the different US versus international.

KEN HICKS: Well, in terms of -- when you first said unit growth I thought you were talking about the shoe units. In terms of the storefronts, we do P Charm growth. The majority of that growth will be in Europe as we continue to expand and fill out the opportunity that we have there in strengthening the countries that we have got a good presence in, building our share in some of the countries that we have a foothold or smaller presence.

We will open some stores in the United States but our real growth is in -- is really going to be in Europe. But there are some malls Q Charm we have opportunities to enter and we are taking advantage of those. We continue to work hard on our lease terms and making sure that we have the best lease terms. I will let Bob talk a little about what we are doing there and any specifics on the stores.

 

 

 

Par tiffanynecklaces221 le mercredi 06 avril 2011

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