Philip L. Francis

Yes.

Christopher Horvers – JP Morgan

Okay and then as a follow on to Chip, a comment that you made earlier, you talked about a potential, this is a consumer shift and the potential for negative comps in the back half of the year. If you still get some inflation occurring in the back half does that, are you suggesting that maybe you expect traffic to deteriorate further?

Lawrence P. Molloy

This would be for everyone on the call. We don''t have a plan in place for next year. We''re talking about we haven''t done it by period or by quarter yet. We''re running it based on where we''ve seen the cost increases. We''re still building our FY09 plan and the first part of that is we''re expecting next year to be difficult. Because we''re expecting it to be difficult we''re managing our CapEx and we''re managing our expenses. We don’t have clarity yet as to what the comps are going to be by period or by quarter, but you can expect inflation to hit us, to benefit us at least through the first half of the year and at that point going forward it''s uncertain for us right now because we haven''t planned each of our periods.

Christopher Horvers – JP Morgan

Got you, that very helpful and then finally as you think about L&S and saving payroll at the store level, could you possibly breakout how much that helps in that 155 basis points and maybe give us the old baseball innings analogy where do you think you are on that side?

Philip L. Francis

I''ll let Chip do the basis points if he wants to. In terms of timing the last two districts out of about 70 were done two weeks ago. We had a schedule disrupted by a hurricane that we had some stores to put back together and those two districts were delayed and so the flow through to next year of year-on-year benefit it kind of ratably through the year over the first three quarters of the year we ought to be giving year-on-year help ratably through the first three quarters on the payroll line as we cycle that.

Lawrence P. Molloy

Yes, first one it was north of 20 basis points in store payroll and I expect that that will get slightly larger as we go forward.

Christopher Horvers – JP Morgan

Thank you very much.

Operator

Our next question comes from David Cumberland from Robert Baird, your question please?

David Cumberland – Robert W. Baird and Co

Thank you, Bob, you mentioned carrying holiday-themes products that could sell well after the season. Is your markdown risk less as a result of this approach on the holiday assortment and about how much of your Q4 mix is holiday related?

Robert Moran

We really haven''t disclosed the mix from a holiday point of view, but we put a lot into it and also how we''re going to promote our way out of it. We feel that we''re going to be in a pretty decent position by Christmas Day and then obviously as I said, going into the last week of December and into the month of January, January''s still very strong for us so that helps us mitigate some of this inventory. Our inventory''s in pretty decent shape right now and actually some of the timing issues of looking at the inventory at the end of the third quarter, without bringing Christmas in earlier, and if you look at where we are today in inventory we''re at a rate of increase of inventory that''s under our sales increase. So we''re in pretty decent shape for the inventory. We''re not really anticipating large markdowns, but we''ll do whatever is necessary to make sure we''re in a decent inventory position by the end of Q4.