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Nike Free Run Powerlines Ii Gris Hombres Venta Zapatos Para Hombre ladies and gentlemen, and welcome to the Second Quarter 2009 Kenneth Cole Earnings Call. My name is Gerry and
Nike Free Run 4.0 Mujeres Luz Azul Negro Outlet Tienda Online 2014 I will be your coordinator today.
2012 Nike Free Run Tr Fit Negro Azul Hombres Tienda Outlet On Sale At this time, all participants are in a listen only mode.
Nike Free Run Powerlines Ii Azul Plata Hombres Con Descuento Grande (Operator Instructions)
I would now like to turn the presentation over to Mr. James Palczynski with ICR. Sir, you may proceed.
Thank you, operator. Good afternoon, everybody. Before we get started, I’d just like
2013 Nike Free Run Líneas Azul Hombres Tienda Outlet On Sale to remind you of the company’s Safe Harbor language. The statements contained in today’s conference call, which are not historical facts, may be deemed to constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Actual future results might
Nike Free Run Trainer 3.0 Negro Rojo Hombres Nosotros Outlet Store differ materially from those projected in such
2012 Nike Free Run 3.0 V2 Rojo Gris Mujeres Con Descuento Grande statements, due to a number of risks and uncertainties, including but not limited
2012 Nike Free Run Tr Fit Negro Azul Hombres Comprar Con Seguridad to, demand and competition for the company’s products; the ability to enter
2012 Nike Free Run 3.0 V2 Negro Gris Moda Guardar Descuento Grande into new product license
Nike Free Run 3.0 V4 Verde Gris Mujeres Para Zapatos Baratos agreements or to renew or replace existing product
Nike Free Run 2014 gris rosa claro de la Mujer Para Zapatos Baratos
Nike Free Run 2 Negro Azul Mujeres Ven y Únete a Nosotros license agreements;
Nike Free Run Powerlines Ii Azul Verde Hombres Para Barato changes in consumer preferences or fashion trends; delays in anticipated store openings; and changes in the
Wmns Nike Free Run 3.0 V5 2014 Verde Mujeres Para Hombres Baratos company’s
Nike Free Run 3.0 V2 Gris Negro Mujeres En Venta En Su Selección
2012 Nike Free Run 3.0 Gris Rosa Mujeres Con Calidad Auténtico relationship with retailers, licensees, vendors, and other resources.
The forward looking statements contained in today’s call are also subject to other risks and uncertainties that are described in the company’s reports and registration statements
2012 Nike Free Run 2 Gris Azul Rosa Mujeres Ven y Únete a Nosotros filed with the Securities and
Nike Free Run Powerlines Ii Gris Hombres Tenemos Buena Reputación Exchange Commission.
With that out
2012 Nike Free Run 2.0 Gris Azul Blanco Mujeres Con El Envío Libre of
Nike Free Run Powerlines Ii Marrón Verde Hombres 70% De Descuento the way, I’d like to now turn the call over to Jill Granoff, Chief Executive Officer of Kenneth Cole Productions.
Thank you, James. Good afternoon and thank you for joining us
Nike Free Run 3.0 V3 2012 mujeres negras Para Usted Al Mejor Precio to review our second quarter results. With me today is David Edelman, our
Nike Free Run 3.0 V4 Gris Mujeres Envío Gratis Para Todo El Mundo Chief Financial Officer.
We continue to make progress against our operational and strategic plan during the second quarter. I’m encouraged to note that our financial results, while still unacceptable, were better than expected.
For the second quarter, we reported revenues of $94 million and a loss per share of $0.18.
Nike Free Run Powerlines Rainbow amarillas Hombres Entrega Rápida This
Nike Free Run 3.0 V2 Gris Negro Mujeres Guardar Descuento Grande compares favorably to our guidance of revenue in the range of 90 to $95 million, and a loss per share of 25 to $0.30. As everyone knows, we are experiencing the worst
Nike Run Balanza gratuito 2014 Verde Mujeres Orange Venta Auténtico economic environment in decades. We
Nike Free Run Powerlines Ii Azul Blanco Hombres Outlet Worldwide have seen dramatic changes in shopping
Nike Free Run 2 Negro Azul Mujeres Para Baratos Pero Real Zapatos patterns, increased price sensitivity, and significant retailer
Nike Free Run 3.0 V5 Ext Bright Pink Mujeres Con Descuento 56% -78% de stockings.
Nike Free Run 3 Gris Verde 2012 Mujeres Guardar Descuento Grande Nevertheless, we remain focused on returning to profitability and generating long term growth.
David will go through the numbers in detail in a few moments, but first I’d like to review some key highlights
Nike Free Run 3 Gris Verde Púrpura Mujeres Comprar Con Seguridad since our last call. Number one,
2013 Nike Free Run Líneas Marrón Hombres Tenemos Buena Reputación very importantly we reduced our inventories by 28% versus the year ago level and
2012 Nike Free Run 2 Mujeres Gris Rosa Aquí Sería Su Mejor Opción ended the quarter with healthier and more balanced inventories as we committed.
Number two; our gross margin was 100 basis points better than the same quarter last year and 850 basis points better than the first quarter.
Nike Free Run Trainer 3.0 Negro Hombres Liquidación Envío Rápido This resulted from both reduced promotional
2012 Nike Free Run 2 Negro Púrpura Mujeres Con Descuento 56% -78% activity
Nike Free Run 2 Orange Yellow Mujeres Versión Adecuado Para Usted and a better merchandise
Nike Free Run 3.0 V2 Gris Negro Mujeres Disfrute El Mayor Descuento mix versus the prior periods.
Number three; the impact of
Nike Free Run 3.0 Rose Gris Mujeres Envío Libre Con Entrega Rápida our ongoing cost control initiatives is reflected in the quarter’s results.
Nike Free Run 4.0 azules claros mujeres negras Con El Envío Libre You’ll see that our SG was down $4.1 million versus the year ago period. This is especially noteworthy considering that our numbers include expenses associated with operating 10 net new stores
2014 Nike Free Run Gimnasio Blanco Rojo Hombres Precio Al Por Menor versus the prior
2013 Nike Free Run Líneas Azul Gris Hombres Para Auténtico Barato year.
Number four; we have continued to see promising results in our test of a new full priced retail concept. We know now that we can
2012 Nike Free Run 2 Negro Rosa Mujeres Venta Con 70% De Descuento achieve a better economic model in
Nike Free Run Powerlines Ii Men Negro Verde Venta Zapatos Baratos a
Nike Free Run 3.0 2012 Gris Rosa Mujeres Comprar Con Seguridad smaller footprint.
Nike Free Run 2 2012 Gris Amarillo Mujeres Para Auténtico Barato In the test stores, comps are running approximately
Nike Free Run 3 de plata Mujeres Orange Venta Con 70% De Descuento 20 points above the control
Nike Free Run 3.0 2012 Gris Rosa Mujeres Liquidación Envío Rápido group and margin is running six full percentage points higher.
2012 Nike Free Run 3.0 V2 Blue Moon Silver Mujeres Venta Zapatos five; we have
Nike Run Balanza gratuito 2014 Plum mujeres rojas Envío Rápido also strengthened our capital position generating almost
Nike Free Run Trainer 3.0 Negro Hombres Venta Zapatos Para Hombre $12 million of cash in the second quarter. We continue to have no debt and ended the quarter
Nike Free Run Powerlines Rainbow Negro Hombres Con La Mejor Calidad with approximately 58 million
2013 Nike Free Run Líneas Azul Gris Hombres Hasta 52% De Descuento of cash. Additionally, I’m pleased to report that since the
Nike Free Run 4.0 Mujeres Blue Sky Ahorre Hasta Un 70% De Descuento close of the quarter,
Nike Free Run 3 grises amarillentas Mujeres Más De 60% De Descuento
Nike Free Run 3.0 V2 Gris Negro Mujeres Venta Con 70% De Descuento we converted our existing credit
Nike Run Balanza gratuito 2014 Gris Rosa Mujeres Entrega Rápida
2012 Nike Free Run Tr Fit Gris Verde Hombres Con Calidad Auténtico line to an asset based facility providing us with increased availability and strategic flexibility if needed.
2012 Nike Free Run 2 Azul Negro Mujeres Entrega Rápida a Su Puerta and perhaps most
Nike Free Run 2014 Gris Mujeres rojas Ayuda Para Alojarse En Estilo importantly, we believe that our product
2012 Nike Free Run Tr Fit Azul Blanco Hombres Para Hombres Baratos is improving steadily driven by Kenneth’s creative and strategic
Nike Free Run Líneas del arco iris azul de los hombres Envío Rápido leadership. We are increasing our focus on product innovation,
Nike Free Run 3.0 Rose Gris Mujeres Venta Hogar Es Su Mejor Opción
2012 Nike Free Run 2 2.0 Azul Naranja Mujeres Venta Barato and as a first step we have reinvented our Kenneth Cole New York Women’s Footwear business with a revolutionary comfort technology. I will tell you more about this exciting re launch in a few minutes.
Nike Free Run 3.0 Rose Gris Mujeres Se Venden Con El Precio Bajo this progress is encouraging, we are still disappointed in our overall financial
2012 Nike Free Run 2 Rose verde Mujeres Tenemos Buena Reputación results. To drive improved performance and return to profitability, we are continuing to reduce costs, increase margin and create sales growth.
As I highlighted, we have reduced
Nike Free Run 3.0 Rose Gris Mujeres Venta Barato our inventory by 28% versus last year. Our assortments
Nike Free Run 3.0 V4 Azul Gris Mujeres Entrega Rápida a Su Puerta are much tighter. We have implemented a good; better, best merchandise mix with a healthier balance between fashion and core across all classifications.
Our forward receipt plan now mirrors our expectations for the business
2012 Nike Free Run 2 Azul Negro Mujeres Disfrute El Mayor Descuento and market conditions. We are also doing a more effective job
Nike Free Run Powerlines Ii Negro Hombres Luna Con Calidad Superior of designing into key out the door price points. The combination of these activities should lead to further reductions in promotion and markdowns resulting in better gross margins.
In addition to enhanced gross margins,
2012 Nike Free Run 3 Pinke plata Mujeres Venta Zapatos Para Hombre we believe
2014 Nike Free Run Gimnasio Blanco Negro Hombres Outlet Worldwide that there are incremental opportunities to cut costs, particularly through
Nike Run Balanza gratuito 2014 Negro Rosa Mujeres Outlet En Venta process efficiencies including test and react initiatives, enhanced fulfillment capabilities and improved speed to market.
I’d now like to update
Nike Free Run 3.0 Rose Gris Mujeres Outlet Store Waiting For You you on
Nike Free Run Powerlines Ii Gris Hombres Venta Zapatos Auténticos the progress we’ve made on our six core
2012 Nike Free Run 3.0 Gris Rosa Mujeres Ven y Únete a Nosotros strategic initiatives. Number one, create compelling product. Number two, energize the brand. Number three, accelerate retail.
Nike Free Run Powerlines Rainbow Negro Hombres Para Zapatos Baratos Number four, revitalize wholesale. Number
Nike Free Run 2014 Vino Rojo Oscuro Blanco Mujeres Outlet En Venta five, go global.
Nike Free Run 4.0 Mujeres Blue Sky Regalo Para Usted o Su Familia Number six, create a
Nike Free Run Powerlines Ii Green Men Aquí Sería Su Mejor Opción winning consumer driven culture.
Nike Free Run Powerlines arco iris púrpura Hombres Para Barato in terms of creating compelling product, great product is essential to our success. This means having high quality trend right products and
Nike Free Run Powerlines Ii Azul Rojo Hombres Venta Zapatos Baratos proper assortments with compelling price value. Kenneth is focused
2013 Nike Free Run Líneas Marrón Hombres Para Barato Pero El Real on re inventing our business classification by classification. Our
2012 Nike Free Run 2 Azul Negro Mujeres Entrega Rápida a Su Puerta first
Nike Free Run 3.0 V3 2012 mujeres rojas Cada Compra Que Realice major initiative is the re launch of Kenneth Cole New York ladies footwear, with our patented comfort technology.
As you may remember, we acquired
2012 Nike Free Run 2 Blue Orange Mujeres Venta Zapatos Auténticos Gentle Souls four years ago, and we have now been able to engineer that patented comfort technology into attractive
Nike Free Run 3.0 V5 Ext Pink mujeres rojas Tienda Outlet On Sale high heeled shoes, a classification of women’s footwear that until now
Nike Free Run 2 2012 Luz azul púrpura Mujeres Con Calidad Auténtico has never been able to be made truly comfortable. This re launch
Nike Free Run 4.0 Mujeres Blue Sky Buena Calidad y El Envío Rápido is already generating excitement across our entire business.
Kenneth describes this product as "The most
2012 Nike Free Run 3.0 V3 Gris Negro Mujeres Hasta 52% De Descuento comfortable shoe a
Nike Free Run 4.0 2012 Azul Verde Mujeres Liquidación Envío Rápido woman ever looked
2012 Nike Free Run 2 Gris Rosa Mujeres Versión Adecuado Para Usted good in. Guaranteed". If you watch Good Morning America tomorrow, you’ll see Kenneth talking about the shoes and the re launch. This
2012 Nike Free Run 3 Azul Plata Mujeres En Venta En Su Selección new footwear line is
Nike Free Run 4.0 Mujeres Negro Rosa Anti-pieles 70% De Descuento currently exclusive to our own full priced retail stores to enable us to build momentum and drive traffic before
Nike Free Run 3.0 V2 Negro Naranja Mujeres Más De 60% De Descuento we expand into wholesale distribution next year.
We have already pre sold several thousand pairs of five limited edition styles at
Nike Free Run OG 2014 mujeres rojas de piel Anti- Venta Auténtico full price,
2012 Nike Free Run Tr Fit gris azul de los hombres Entrega Rápida which we believe is unprecedented in this market environment. The shoes will
Nike Free Run OG 2014 Anti-piel azul claro Mujeres Entrega Rápida be available for pickup beginning tomorrow. We expect to
2012 Nike Free Run Tr Fit gris azul de los hombres 70% De Descuento sell
Nike Free Run 2 grises verdes Mujeres Venta Con 70% De Descuento through the entire initial delivery at full price.
In terms of
2014 Nike Free Run Gimnasio Negro Rojo Hombres Con La Mejor Calidad our broader product assortment strategy, core product is now 40 to 50% of the mix versus only 20% at
2012 Nike Free Run Tr Fit Negro Azul Hombres Todo De Alta Calidad this time last year. We
Nike Free Run Powerlines Ii Azul Rojo Hombres Con Calidad Auténtico are very focused
Nike Free Run 2 Gris Azul Mujeres Ahorre Hasta Un 70% De Descuento
Nike Free Run Powerlines Ii Verde Negro Hombres Venta Auténtico on product that consumers can wear now, is appropriate for more than one
Wmns Nike Free Run 3.0 V5 2014 Orange Mujeres Comprar Con Seguridad season, is versatile for a variety of wearing
Nike Free Run 3 grises amarillentas Mujeres Hasta 52% De Descuento occasions and thus
Nike Free Run Powerlines Ii Azul Verde Hombres Con La Mejor Calidad delivers greater value.
We’re excited about the new fall lines and we are seeing success in modern wear
Nike Free Run 2 Gris Azul Mujeres Envío Libre Con Entrega Rápida to work apparel including suits separates for
Nike Free Run Powerlines arco iris púrpura Hombres Venta Auténtico men and
Nike Free Run 2014 Gris Púrpura Mujeres Entrega Rápida a Su Puerta dresses for women as well as casual fashion such as Denim, Ts and ath leisure footwear.
In addition, we are
Nike Free Run 3.0 V2 Gris Negro Mujeres Disfrute De Más Descuento working very closely with our licensing partners to develop Kenneth Cole into a global lifestyle brand. In particular, we continue
Nike Free Run Powerlines Ii Gris Hombres Ven y Únete a Nosotros to be very pleased with the
Nike Free Run 3.0 V2 2012 Blanco Gris Mujeres Todo De Alta Calidad performance of our women’s sportswear, men’s tailored clothing, outwear, dress shirts, ties and belts.
In terms of our brand initiatives, our fall marketing campaign has received great feedback. Our marketing more clearly communicates our fashion identity while retaining our unique social voice. Our goal is to maintain our media presence while reducing
2012 Nike Free Run 2 Negro Púrpura Mujeres Guardar Descuento Grande our creative expense to generate a greater return on
Nike Free Run 2014 Negro Rosa Mujeres Entrega Rápida a Su Puerta our overall marketing investments. We’ve also embraced social
2012 Nike Free Run 2 Gris Azul Rosa Mujeres Tienda Outlet On Sale networking and the blogosphere to build a brand
Nike Free Run 3.0 V5 Ext Pink mujeres rojas Para Hombres Baratos oriented community and strengthen the connection with our consumers.
Perhaps, our most exciting current initiative is the
2012 Nike Free Run Tr Fit Gris Verde Hombres Con Calidad Superior re launch of our Kenneth
2012 Nike Free Run 3 Gris Naranja Mujeres Más De 60% De Descuento Cole New York women’s shoes. I hope some of you will join us tomorrow morning at 9:00 AM for a special event at our Rock Center store. Hundreds of people have told us, they are coming to pick
Nike Free Run 3.0 V5 Ext Pink mujeres rojas Venta Zapatos Baratos up their shoes and meet Kenneth.