Mr. McComb concluded, "Looking forward, 2010 is all about operational excellence. At Juicy, Lucky and Kate, we are committed to improving productivity to maximize the potential of these great brands, with a focus on retail execution, gross margin improvement and increasing sales per square foot. In our Partnered Brands segment, we are focused on executing smooth transitions to the new licensing models with JC Penney for our Liz Claiborne and Claiborne branded products and QVC for our LCNY branded products. Although operating results will remain challenging at Mexx Europe through most of 2010, we remain optimistic that CEO Thomas Grote and his new management team will successfully execute the turnaround strategy that he will discuss on conference call."
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