We are reiterating our Hold rating and projections for Guess? after visiting stores in the Metropolitan New York City and Long Island regions. Guess? is now materially ramping for Fall, with fashion outerwear, event/party looks and new compelling denim bottom styles. Further. Fall mainstays such as sweaters, velour activewear, faux leather and fur driven looks are also taking their place as key fashion leaders. We are also seeing shifts in merchandising for the somewhat moribund men's category, offering complete and materially easier-to-shop looks at the main line stores, with immediate positives. With the company on track to go private on November 21st, we believe Guess? is poised to show material progress in the domestic stores.