Jack Treatize (Holden): You mentioned your private label brands have been performing better than most of the other, most of the vendors. Was that a full price sell-through or was that at markdown?

Karen M. Hoguet: It is a combination.

Jack Treatize (Holden): Was that at first mark-through or second markdown?

Karen M. Hoguet: Both.

Jack Treatize (Holden): Can you comment about any future consolidation costs or any future restructuring charges you can foresee?

Karen M. Hoguet: We have talked about the fact that we are going to have $150 million this year, of which $87 million has been booked, so the remainder will be booked over the next couple of quarters.

Christine Augustine (Bear Stearns): On the My Macy''s and the divisional consolidation and this whole new structure, how long will you monitor it before potentially adding it to the entire chain?

Karen M. Hoguet: One of the issues is it will take until early next year for the new planning structures to have an impact on the assortments. We will just have to see as we go.

Michelle Clark (Morgan Stanley): When the guidance for FY08 was provided, there was the expectation that buy-backs would resume in 2008. What positive impact you had embedded into that guidance from buy-backs?

Karen M. Hoguet: That is just one of the factors that were considered then.