Patrick McKeever (MKM Partners): Can you talk about your shoe business, which has been comping well and how are the price points holding up in shoes?
Michael Balmuth: Our shoe business is approximately in the 10% range for our store. We are executing better than we have before. Our skew levels are not a lot different. Our pricing has been sharp.
Patrick McKeever (MKM Partners): Is this the first time you have called the fuel surcharges up as a material issue and what are you seeing there?
Michael B. O’Sullivan: We knew that fuel prices were going to be high coming into the year, so we planned for that to some degree. When we first saw fuel prices rise $50 a barrel and up, when we first saw them rise we took a step back and took a look at our transportation costs and we put a number of initiatives in place that are sort of coming to fruition now that relate to how we flow goods into our distribution centers, how we pack goods on trucks. To some degree we were able to use those initiatives to offset some of the increases in the first quarter. That will help us in the remainder of the year as well. There will not be enough to offset it completely as long as prices remain at those levels.
Dana Telsey (Telsey Advisory Group): Are you seeing any price increases from China?
Michael Balmuth: We are seeing it. In Footwear there is significant price increases coming out of China. What we are seeing is on the categories it, if we have to do it effectively we are more on the sidelines and we will see how it plays out for traditional resale. There are pockets of the business in the home area where there are price increases and in our business we can adjust our mix to help mitigate some of that with price increases.
Dana Telsey (Telsey Advisory Group): What is the magnitude of the price increases?
Michael Balmuth: They are raised by category. I am not comfortable in every area today on the floor. Ladies apparel is still further behind mens. Young mens is considerably moved. Ladies is moving the needle.
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