Thank you.
Operator
Your next question comes from Tracy Kogan with Credit Suisse.
Tracy Kogan - Credit Suisse
Thanks. Good morning. Two questions. I was hoping you could break down that $60 million in CapEx you expected for next year between new stores, refreshes and IT and other. And then secondly, I was hoping you could talk a little more about your landlord negotiations for the stores that you’re closing and whether you’ve changed your view on the ultimate number of stores you think you’ll close, based on maybe getting better deals from the landlords. Thank you.
Michael J. Nicholson
Sure. A couple of things, in terms of the CapEx for 2009 the $60 million, new stores plus store maintenance capital in the range of $25 to $30 million with the balance coming out of the area of IT. In terms of our ongoing store closure program, we are still clearly on target to deliver the 117 store closures and there will likely be other store closures that will fall out as part of the natural business closure process.
Tracy Kogan - Credit Suisse
But you haven’t found that the landlords have been able to negotiate with you to the degree that you’d actually want to keep some of those stores open?
Michael J. Nicholson
Well, where there are instances where we are successfully able to negotiate costs out of the box, if you will, we absolutely would reconsider maintaining that location. And with every location, it is sort of a case by case, store-by-store negotiation.
Tracy Kogan - Credit Suisse
Thank you.
Operator
Your next question is from Adrienne Tennant with FBR.
Adrienne Tennant - Friedman, Billings, Ramsey & Co.
About this paradigm shift of kind of the working woman and I expect that to persist, you know, well beyond ’09, and maybe it’s a permanent shift and so when you look into spring you’re suiting business, what are you shifting that product into? Thank you.
Katherine Lawther Krill
You know what, Adrienne? I’m sorry. The beginning of your question we did not hear it. You kind of phased in, in the middle. Could you repeat it please?
Adrienne Tennant - Friedman, Billings, Ramsey & Co. |
