Our centralized capabilities for worldwide procurement and sourcing enable us to deliver to our customers competitive, high quality and low cost goods on a timely basis. We have an extensive established network of worldwide sourcing partners that enables us to meet our customers' needs in an efficient manner and not rely on any one vendor or factory or on vendors or factories in any one country. We also operate a network of wholesale and retail distribution centers that we believe has sufficient capacity to accommodate planned growth, as well as additional brands we may license or acquire, without a significant increase in capital expenditures. We believe that our investments in logistics and supply chain management allow us to respond rapidly to changes in sales trends and customer demands while enhancing our inventory management efficiencies.

To address the needs of our customers, we are continuing to make investments and develop strategies to enhance our ability to provide them with timely product availability and delivery. Our investments in sophisticated systems should allow us to reduce the cycle time between the design of products to the delivery of those products to our customers. We believe the enhancement of our supply chain efficiencies and working capital management through the effective use of our distribution network and overall infrastructure will allow us to better control costs and provide improved service to our customers.

As a global corporate citizen, we are committed to contributing to the economic, environmental and social sustainability of the communities in which we operate.