It is clear to us that a sale of the company is likely to occur in 2006. With business having improved on the margin, we believe Jill shares could likely command a slight premium to Liz Claiborne's original $18 offer.
When you put a brand new flat-screen in your living room or bedroom, the old furniture becomes outdated. A lot of people are updating their furniture and decor to match the TV itself. We think is helping to fuel home furnishing sales.
Retailers may have struggled to clear through certain cold-weather seasonal items, perhaps resulting in deeper markdowns on those items.
We think 'home' fundamentals are tied to product cycles and not the housing cycles.
In terms of market dynamics, there are many hands in the market share grab. Wal-Mart, Target and department store chains like J.C. Penney and Kohl's will see incremental dollars coming into home furnishing as well.
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