Polo continued to exhibit tremendous momentum. The strength in the business was broad, with wholesale and retail both outperforming our sales and margin expectations.

224

We see signs of a turn.

180

The deal makes sense to us at first pass given Adidas' stated goal of increasing market share in the U.S. and its rivalry with Nike. On the margin this looks like bad news for Nike, which has dominant share in major retail accounts.

175

Sales decelerated in Europe and Asia, futures excluding currency were below expectations, and currency took a big bite out of futures.

160

We see major headwinds for Kellwood, more than any other apparel company. We believe its problems are mostly brand and distribution problems, and we don't expect these problems to reverse.

159

We expect Jones to report total revenue of $1.15 billion, a decline of 14.4 percent versus last year, and earnings of 47 cents per share. Management did not provide quarterly guidance, and this quarter will reflect a decline in revenue due to the sale of Polo Jeans Company.

137