Obviously, our ability to predict future sales and earnings has not been borne out by experience so far this year, ... We need to adopt a wait-and-see approach to the rest of the year. The holiday season is always very important to us but it is really the key to a successful year this time out.
It's to the point where the money I'd spend getting down there, it's not really worth it.
This is a further important step in putting these matters behind us and focusing our full attention on the strategic and operating initiatives that we have undertaken to grow our businesses.
We share a lot of common character and culture.
Extremely pleased with our first quarter performance, having demonstrated strong sales and a significant improvement in earnings. This was especially gratifying in the face of a difficult economy.
We have worked hard for nearly a year to cooperate fully with the United States Attorney's Office, and are pleased that it has determined to close its investigation.
We've made much progress in this past quarter, especially in getting our inventory more closely aligned with sales, restructuring our organization into functional operating units and putting people in key leadership roles.
By organizing our core business into individual business units, there has been duplication of tasks and responsibilities that have not been supported by our sales growth. By restructuring our organization into functional areas, not only will we be more efficient, we will also be much more effective.
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