And then just one other clarification, do you think inventories will be totally in line by the end of the fourth quarter or do you think it takes until the end of the first?

Michael J. Nicholson

Our inventories will absolutely be in line as we move into 2009.

Dana Cohen - Banc of America Securities

Okay, great. Thank you.

Michael J. Nicholson

Thank you.

Operator

By the Company’s request we do ask that you limit yourself to one question. Your next question comes from Robin Murchison with SunTrust.

Robin Murchison - SunTrust Robinson Humphrey

Thank you. Good morning. I wanted to ask about product costs and third party brand performance by division. Thank you very much.

Katherine Lawther Krill

I’m sorry, can you repeat the question? I’m sorry, I didn’t hear - we didn’t hear you.

Robin Murchison - SunTrust Robinson Humphrey

Right. What’s going on with product costs and then third party brand performance by division?

Michael J. Nicholson

I mean, I’m happy to take the product cost component of the question. You know, candidly earlier this year we were anticipating pressure on costs and pressure on IMU heading into 2009. But candidly, given the macro environment that’s impacted the world, we are actually not seeing any pressure on costs and to some degree we will aggressively go after cost reduction and working with our strategic supply base going forward.

Katherine Lawther Krill

And as far as third quarter brands, it is a very insignificant part of the business in both divisions actually, primarily dresses at Ann Taylor and they did very well. And primarily fashion tops in Loft and those did well, too. So it’s very – it’s probably less than 3% of the assortment in both brands but they were okay.

Operator