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prada suede sneakers men boys, we have already begun designing into new resort oriented categories. Among these is a planned launch of women's swimwear for holiday in a select number of stores.In the franchisee business, we're focused on communicating to them how to also leverage these investments and to improve and capture the same level of productivity we're achieving in our own stores. As of today, they are not, and we see this as a significant opportunity. The level of excitement throughout the organization for all these initiatives is high and we're looking forward to 2013.III Apparel Group Management Discusses Q2 2014 ResultsWelcome to the Second Quarter Fiscal 2014 G III Apparel Group Earnings Conference Call. My name is Larissa, and I'll be your operator for today's call. Instructions Please note this conference is being recorded.Thank you. Before we begin, I would like to remind participants that certain statements made on today's call and in the Q session may constitute forward looking statements within the meaning of the federal securities laws. Forward looking statements are not guarantees and actual results may differ materially from those expressed or implied in forward looking statements. Important factors that could cause actual results of operations or the financial condition of the company to differ are discussed in the documents filed by the company with the SEC. The company undertakes no duty to update any forward looking statements.In addition, during the call, we will refer to adjusted EBITDA to the non GAAP number. We provided a reconciliation of adjusted EBITDA to our net income according to GAAP in our press release and on our website.I will now turn the call over to our Chairman and Chief Executive Officer, Morris Goldfarb.Good morning and thank you for joining us. With me today are Sammy Aaron, our Vice Chairman; Wayne Miller, our Chief Operating Officer; Neal Nackman, our Chief Financial Officer; and Jeff Goldfarb, our Director of Strategic Planning.Our results in the second quarter were outstanding, and we are pleased to have performed well in a challenging environment. I'd like to start the call today by going right to the financial highlights.Sales of $304 million in