Well Adrienne obviously our big killer categories are pants, sweaters miffs, jackets and we have I think out to a fantastic approach to the whole pant category as we wrap into the third quarter. Again I would put that under I don’t want to say too much because of competitors but I think it looks really sensational. We have a pant set, a fit that I should say our customers truly love and we have been able to give her a couple of new variations that have tested extremely well. So, we are really excited about that category. I think we have a tremendous approach on miffs and sweaters as we go into third quarter and we are extremely excited there as well. We believe we have also have a fresh approach on the more polished side of our sportswear assortment. So, those are some of the things that we are looking for. To Mike’s earlier point we are going in a much better position with key items as we go into third quarter. We have great ability to chase as we see the consumer reaction there. So, we have a really good range of price points. We are very much in our historic lane in terms of the price range of offers. We have a fresh approach to kind of the top end of our line. We no longer will be using the collection label but we will have products in the price points that ties into the entire store where the brand is in at any given moment. So, listen the merchant have started to believe this is very exciting. I think this is particularly exciting because this has been done by a team that’s already been together for about a year and has incorporated a lot of the early learnings into both the third and fourth quarter assortment and I’ve to say I think our marketing messaging and creative just gets, keeps getting stronger. We are very excited with some of these events that we have lined up for the fall and which we will talk about later but really we will continue with the whole emphasis on our hostess event. We are partnering with more magazines on reinvention convention. That’s right in our target demographics. So, we just have a lot of terrific things on deck as we wrap the back half of the year and it will be great if she eases up on herself a bit and wants to shop and so we will be ready willing and able to help her.
Adrienne Tennant – FBR
Okay great. Then on the finance charge?
Michael Scarpa
Yeah as I said before receivables are in excellent condition. We saw the penetration of our staunch customer increase to 51% this quarter up from about 48% and we actually saw our finance income up slightly about $0.5 million to slightly over $10 million for the quarter.
Adrienne Tennant – FBR
Okay great. Thank you so much. Good luck.
Trudy F. Sullivan
Thanks.
Michael Scarpa
Thank you.
Operator
Our next question is from the line of Todd Slater with Lazard Capital Markets.
Todd Slater – Lazard Capital Markets
Mike as you said Talbots has productivity. Historically Talbots has operated in an area in our estimation of about peak of about $600 per selling square foot. That was about nine years ago. Today that number is sort of near about half of that level. Obviously you have a major downturn economically but in a more normalized environment are there any structural impediments that you see to getting the sales square foot to at least half way back to historic levels? I’m just curious if you have any sort of internal goal or specific goal that you’d think that you should at least achieve at a minimum? Thanks.
Michael Scarpa
Obviously your observation is correct. Our productivity has been down significantly. We are estimating productivity in the 360 range this year. Obviously for next year we’d like to start to see double digit increases against that and from a structural perspective I don’t believe there is anything that inhibits us from doing that but like I said before we are in the midst of a portfolio review and we’ll see if there is some nuances around some of the stores that we have that maybe holding that back a little bit. But regardless of those nuances our productivity should be…we would goal ourselves to be in the force next year.
Todd Slater – Lazard Capital Markets
Okay great. Thanks. That’s helpful.
Operator |