It was exciting to watch on the casual side as well as in what we call the key item side. These are very refreshed styles. We do sell T-shirts but we are selling really what we think are freshening exciting new looks for us. We have a wonderful sleeveless T-shirt with almost a small polo neck that’s very, very new in selling. We have great printed T-shirts that are selling. She is loving tunic. Our casual pants have been really terrific in that all range whether it was crafter, ankle or fall, so a lot of new fabrication that we put into the line. It is very encouraging and interestingly on the casual side some of the really what we call the push beyond the real fun thing she has reacted so beautifully. So, she is certainly not looking for us to feel really conservative. She likes the reinvention of our whole T-shirts and sweater and knit classifications. So, we’ve been very encouraged there and the other thing I should mention is we have had a really terrific season in the non-apparel categories especially scarves. Scarves have been a real strong part of that offer. So, we are encouraged and that’s something that we can run through the rest of the year well. So, there are a lot of bright spots and the charming cardigan for example is something that’s again Talbots iconic but that has been strong in every delivery that we brought it in.
Stacy Pak - SP Research
So it is sort of a more dressy stuff that is causing you to still look for negative low 20s on the top line?
Trudy F. Sullivan
No I think it is just overall that our traffic declines are in the high teens. And our own research shows us that she is still very cautious in her shopping pattern.
Stacy Pak - SP Research
And that traffic was still that bad with that better product at the end of the quarter.
Trudy F. Sullivan
Traffic is still running in the mid to high teens negative. The only thing is the conversions aren’t falling. The conversions are holding steady. In fact where she is purchasing she is purchasing at a slightly lower price point than she has before.
Stacy Pak - SP Research
Right, right okay and Mike? Thank you, Trudy.
Michael Scarpa
Well from a sales perspective for Q2 obviously with the May already in the bank we have incorporated that into our guidance of negative low 20s.
Stacy Pak - SP Research
Right.
Michael Scarpa
When we look at IMU we are projecting anywhere between 350 and 400 basis points improvement as we look at the assortments between casual and we find when we look at where we are now in calendar adherence to where we were a year ago, we are doing a much better job of bringing goods here on a vessel. We are being much more strategic in terms of where we are placing our production from a country perspective and then we are doing much better job in terms of negotiations with our vendor community.
Stacy Pak - SP Research
And that 350 to 400 that’s for what period?
Michael Scarpa |