Robin Murchison (Sun Trust Robinson Humphrey): Why are you seeing the 67.5 million shares increase?

Armand Correia: It is a result of our 2.5% convertible note. That is the dilution impact. The higher the price of the stock goes, the greater dilution we have. We are using $18 as an average price to come up with that approximately $67.5 million weighted average shares outstanding for next year.

Robin Murchison (Sun Trust Robinson Humphrey): Business was relatively the same in September as what you saw in August. Is that also true in the core division?

Keith Fulsher: It is about the same. August/September are similar at this point.

Robin Murchison (Sun Trust Robinson Humphrey): You mentioned bottoms were a struggle. Is this just a trade still to dresses and skirts or something different?

Keith Fulsher: If you look at the customer, what is happening out there right now, if she has extra dollars to spend, she can update her wardrobe easily with a different fashion top rather than using her dollars to replace the basic flat pant. We are just managing our inventory, keeping our inventories in line with our sales. It is not a promotional business, nor will it ever turn to be a promotional business at Dress Barn.

Robin Murchison (Sun Trust Robinson Humphrey): What percentage of merchandise is EVOS and what percentage is the rest of the core Dress Barn business?

Keith Fulsher: It is a small percentage of the source assortment at this point. Somewhere between 5% and 10% of the store would be in EVOS, and that is in the missy side. It is not in the large side for fall at this point, so it is a work in progress. We are pleased with the results and we are looking to grow it and have it become a more important part of our business, but it still is in the early stages.

Robin Murchison (Sun Trust Robinson Humphrey): Would you ever supplant over time the Dress Barn brand with the EVOS brand?

Keith Fulsher: Over time we feel this EVOS brand has a lot of potential and we will see where that takes us in the next few years but we are looking at it as a good growth vehicle for us.

David R. Jaffe: The reason I do not think we will is that what we are trying to do is segment our offerings and have a good, better, best. So EVOS is 20%-plus higher than our average price point on comparable goods and therefore, now you have got something that our better customers can aspire to. So we want to have it out there. If we change everything to EVOS, EVOS would not be special.

Robin Murchison (Sun Trust Robinson Humphrey): Can you comment on the acquisition market?

David R. Jaffe: I see a lot of people sitting on their hands, saying one more season and my stock price is going to come back or one more season and my results will come back and a denial out there, or hope, and there is going to be another shakeout after this Christmas because I do not think it is going to be a strong Christmas. It will not be a horrible one like last year but I do not think it is going to be a strong one and you are going to get one more group of those marginal players to either drop out or cut back their size.

Brian Runick (BLR Capital Partners): What was D&A for the year?

Armand Correia: For the year, came in at $48.2 million.

Brian Runick (BLR Capital Partners): Have you noticed in the past consumer sentiment filtering down into your business more so, less so than others or can you comment on that, relative to Christmas?

David R. Jaffe: Last Christmas was a disaster for us. During the Christmas period, we were down 13% at Dress Barn comps. Maurice''s was much stronger. The bad news started filtering out then and we felt it. There were other issues because it was a weak fall and the inventory and all that but I do think that our customer, especially the Dress Barn customer is older, more sensitive to what is happening in the economy, does react to it and we are feeling it right now and the Maurice''s customer, the back-to-school customer, whether it is the kids spending their own money or their parent’s money, we saw across the industry a pull-back in reaction to what was going on in the news, in the economy and unfortunately it is going to be a challenging fall.

Brian Runick (BLR Capital Partners): Does Maurice''s business get better during back-to-school when people need to shop, and then it gets into a worse trend thereafter?

David R. Jaffe: We have not seen any kind of a switch or anything that happened this year, happened last year, so we are just seeing a general weakness out there, whether it is back-to-school or not.

Brian Runick (BLR Capital Partners): Was the tax rate for the quarter higher than expected or that is the rate we should be using going forward?

Armand Correia: It is higher for the quarter but I would feel comfortable with a 39 to 39.5 tax rate going forward.

Brian Runick (BLR Capital Partners): Was there something one-time in nature in the other income line in the quarter?