Good day, ladies and gentlemen, and welcome to
Nike Free Run Powerlines Ii Azul Plata Hombres Versión Adecuado Para Usted the Second Quarter
Nike Free Run 2 2 2009 Kenneth Cole Earnings
Nike Free Run 2 2012 Gris Amarillo Mujeres Para Barato Zapatos Para Hombre Call. My name is Gerry and I will be your coordinator today. At this time, all participants are in a
Nike Free Run 3.0 V2 Blanco Rosa Mujeres Para Baratos Zapatos Auténticos listen
2014 Nike Free Run Gimnasio Negro Rojo Hombres Venta Aquí Con Alta Calidad only mode. (Operator Instructions)

I would now like to turn the presentation over
Nike Free Run 3.0 V5 Ext ciruelo mujeres rojas Entrega Rápida a Su Puerta to Mr. James Palczynski with ICR. Sir, you may proceed.

Thank you, operator. Good afternoon, everybody.
Nike Free Run 4.0 2012 Azul Plata Mujeres Ahorre Hasta Un 70% De Descuento Before we get started, I’d just like to remind you of the
2012 Nike Free Run 2 Negro Rojo Blanco Mujeres Entrega Rápida a Su Puerta company’s Safe
Nike Free Run 10o Aniversary Verde Gris Mujeres Tenemos Buena Reputación Harbor language. The statements contained in today’s conference call, which are not
Nike Free Run 3.0 V5 Ext Fuego Rojo Blanco Mujeres Nosotros Outlet Store historical facts, may be deemed to constitute
2014 Nike Free Run Gimnasio Negro Blanco Hombres Comprar Con Seguridad forward looking statements within the meaning of the Private Securities Litigation Reform
Nike Free Run Powerlines Ii Gris Hombres Buena Calidad y El Envío Rápido Act of 1995.

Actual future results might differ materially from those projected in such statements,
2012 Nike Free Run Tr Fit Negro Azul Hombres Ayuda Para Alojarse En Estilo due to a number of risks and uncertainties, including but not limited to, demand and competition for the
Nike Free Run 3.0 grises azules claros Mujeres Aquí Sería Su Mejor Opción company’s products; the ability to enter into new product license agreements or to renew or replace existing product license agreements; changes in consumer preferences or fashion trends; delays in anticipated store openings; and changes in the company’s relationship with retailers, licensees, vendors, and other resources.

The forward looking statements contained in today’s call are also subject to
2012 Nike Free Run 3 Naranja Gris Mujeres Ahorra Hasta Un 50% De Descuento other risks and uncertainties that are described in the company’s reports and
Nike Roshe Run 2014 mujeres rojas Ant-piel Venta Hogar Es Su Mejor Opción registration statements filed with the Securities and
Nike Free Run 3 de plata Mujeres Orange Con Precio Barato Exchange Commission.

With that out of the way, I’d like to now turn the call over
Wmns Nike Free Run 3.0 V5 2014 mujeres negras rojas Venta Zapatos Baratos to Jill Granoff, Chief Executive Officer of Kenneth Cole Productions.

Thank you, James. Good
2012 Nike Free Run 3.0 Piel Gris Blanco Mujeres Running Zapatos For Barato afternoon and thank you for joining us to review our second quarter results. With me today is David Edelman, our Chief Financial Officer.

We continue to make progress against our operational and strategic plan during the second quarter. I’m encouraged to note that our financial results, while still unacceptable, were better than expected.

For the second quarter, we reported revenues of $94 million and a loss per share of $0.18.
Nike Run Balanza gratuito 2014 Negro Rosa Mujeres Tenemos Buena Reputación This compares favorably to our guidance of revenue in
Nike Free Run Trainer 3.0 Negro Azul Hombres Venta Hombres Running Zapatos the range of 90 to $95 million, and
Nike Free Run 3.0 V7 ​​Azul Negro Mujeres Para Baratos Zapatos Auténticos a loss per share of 25 to $0.30. As everyone knows, we are experiencing the worst economic environment in decades. We
Nike Free Run 3.0 mujeres azules Con Descuento Grande y El Envío Rápido have seen dramatic changes in shopping patterns, increased price sensitivity, and significant retailer de stockings. Nevertheless, we remain focused on returning
Nike Free Run 2014 Negro Rosa Mujeres Comercio Al Por Mayor Tienda Online to profitability and generating
Nike Free Run 4.0 2012 Negro Rojo Mujeres Tenemos El Precio Bajo En Línea long term growth.

David will go through the numbers in detail in
2012 Nike Free Run 2 Mujeres Gris Rosa Con Alta Calidad y Entrega Rápida a few
Nike Free Run 3.0 V7 ​​shinne azules mujeres negras Con Calidad Superior moments, but first I’d like to review
Nike Free Run Powerlines Ii Men Negro Verde Cada Par De Zapatos Que Compra some key highlights since our last call. Number one,
Nike Free Run Powerlines Ii Azul Blanco Hombres Guardar Descuento Grande very importantly we reduced our inventories by 28% versus the year
Nike Free Run 3.0 V5 Ext Negro Rosa Mujeres Envío Libre Con Entrega Rápida ago level and
Nike Free Run Powerlines Ii Azul Rojo Hombres Disfrute El Mayor Descuento ended the
2012 Nike Free Run 3 Azul Plata Mujeres Para Baratos Pero Real Para Hombre quarter with healthier and more balanced inventories as we committed.

Number two; our gross margin was 100 basis points better than the same quarter last year and 850 basis points better than the first quarter.
Nike Free Run 2014 Gris Mujeres rojas Venta This resulted from both reduced promotional activity and a
2014 Nike Free Run Gimnasio Blanco Rojo Hombres Entrega Rápida a Su Puerta better merchandise mix versus the prior periods.

Number three; the impact of our
2012 Nike Free Run Tr Fit Azul Hombres Amarillo Entrega Rápida a Su Puerta ongoing
Nike Free Run Powerlines Ii Negro Rojo Hombres Precio Barato Calidad Cozy cost
Nike Free Run 2014 gris rosa claro de la Mujer Venta Aquí Con Alta Calidad control initiatives is reflected in the quarter’s results. You’ll see that our SG was down $4.1 million versus the year ago
Nike Free Run 3.0 V7 ​​Cielo Azul Naranja mujeres negras Para Barato period. This is
2014 Nike Free Run Gimnasio Blanco Negro Hombres Liquidación Envío Rápido especially noteworthy considering that our numbers include expenses associated with operating 10 net new stores versus the prior year.

Number four; we have continued to see promising results in our test of a new full priced retail
2014 Nike Free Run Gimnasio Negro Verde Hombres Nosotros Outlet Store concept. We know now that we can achieve a better economic model in a smaller footprint. In the test
2012 Nike Free Run 3.0 Luz Gris Verde Naranja Mujeres Para Zapatos Baratos stores, comps are running
Nike Free Run Powerlines Rainbow amarillas Hombres Cada Compra Que Realice approximately 20 points above the control group
Nike Free Run 3.0 V4 Gris Azul Mujeres Comercio Al Por Mayor Tienda Online and margin is running
Nike Free Run 3.0 V7 ​​púrpura Negro Mujeres Con Más Bajo Precio Auténtico six full percentage points higher.

Number five; we have also strengthened our capital position generating almost
Wmns Nike Free Run 3.0 V5 2014 Gris Naranja Mujeres Ven y Únete a Nosotros $12 million
Nike Free Run 3.0 V4 Gris Azul Mujeres Ahorra Hasta Un 50% De Descuento of cash in the second quarter. We continue to have no debt and ended the quarter with approximately 58 million of cash. Additionally, I’m pleased to report that since the close of the quarter, we converted our existing credit line to an
Nike Free Run 4.0 2012 Negro Rojo Mujeres Ayuda Para Alojarse En Estilo asset based facility providing us with increased availability and strategic flexibility if needed.

Number six, and perhaps most importantly, we believe that our product is improving
2012 Nike Free Run Tr Fit Naranja Hombres Tenemos El Precio Bajo En Línea steadily driven by
Nike Free Run 2014 Gris Mujeres rojas Excelente Calidad Kenneth’s creative and strategic leadership.
Nike Free Run 3.0 V5 Ext Pink mujeres rojas Venta Barato We are increasing our focus on product innovation, and as a first step
Nike Free Run 3.0 V2 2012 Mujeres Blanco Gris Bueno Guality Y Media Precio we have reinvented our Kenneth Cole New York Women’s Footwear
Nike Free Run Powerlines Ii Verde Blanco Hombres Outlet Tienda Online 2014 business with a revolutionary comfort technology. I will tell you more about this exciting re launch in a few minutes.

While this progress is encouraging, we are
Nike Free Run 2 2 still disappointed in our overall
Nike Free Run 3.0 2012 Verde Plata Mujeres Para Baratos Zapatos Auténticos financial results. To drive improved performance and return to profitability, we are continuing to reduce costs,
Nike Free Run Powerlines Ii Negro Oro Hombres Disfrute El Mayor Descuento increase margin
Nike Free Run 3.0 V2 Negro Naranja Mujeres Cómodo y Envío Appropriate.Free and create sales growth.

As I highlighted, we have reduced our inventory by 28% versus last year. Our assortments are much tighter. We
2012 Nike Free Run 3.0 Piel Gris Blanco Mujeres Tenemos Buena Reputación have
Nike Free Run OG 2014 las mujeres negras de piel Anti- Precio Al Por Menor implemented a good; better, best merchandise mix with a healthier balance
Nike Free Run 3.0 V7 ​​Azul Negro Mujeres Buena Calidad y El Envío Rápido between fashion and core across all classifications.

Our forward receipt plan now mirrors our expectations for the business and market conditions. We are also doing a more
Nike Free Run Powerlines Ii Negro Rojo Hombres Running Zapatos For Barato effective job of designing into key out the door price points. The combination of these activities should lead
2014 Nike Free Run Gimnasio Negro Verde Hombres Para Barato Pero El Real to further reductions in promotion and markdowns resulting in better
2012 Nike Free Run 3.0 Negro Azul Mujeres Regalo Para Usted o Su Familia gross margins.

In addition to enhanced gross margins, we believe that there are incremental
Nike Free Run 2014 gris rosa claro de la Mujer Precio Barato Calidad Cozy opportunities to cut costs, particularly through process efficiencies including test and react initiatives, enhanced fulfillment capabilities and improved speed to market.

I’d now like to update you on the
2012 Nike Free Run 2 Rose verde Mujeres Ahorra Hasta Un 50% De Descuento progress
Nike Free Run Powerlines Ii Negro Verde Hombres Disfrute De Más Descuento we’ve made on our
2013 Nike Free Run Powerlines Negro Hombres Env穩o Libre Con Entrega R獺pida six core strategic
Nike Free Run Powerlines Ii Verde Negro Hombres Precio Barato Calidad Cozy initiatives. Number one, create compelling product. Number two, energize the brand. Number three, accelerate retail. Number four, revitalize wholesale. Number five, go global. Number six, create a winning consumer driven culture.

Now, in terms of creating compelling product, great product
2013 Nike Free Run Powerlines Gris Verde Hombres Cada Compra Que Realice is
2013 Nike Free Run Líneas Marrón Hombres Ahorra Hasta Un 50% De Descuento essential to our success. This
Nike Free Run 3.0 V5 Ext Bright Pink Mujeres Más De 60% De Descuento means having high quality trend right products and proper assortments with compelling price value. Kenneth is focused
2012 Nike Free Run 2 Gris Rosa Mujeres Excelente Calidad on re inventing our business classification
2013 Nike Free Run Líneas Azul Gris Hombres Regalo Para Usted o Su Familia by classification. Our first major initiative is the re launch of Kenneth Cole New York ladies footwear, with
Nike Free Run Powerlines arco iris púrpura Hombres Hasta 52% De Descuento our patented comfort technology.

As you may remember, we acquired Gentle Souls four years ago, and we have now been able to engineer that patented comfort technology into attractive high heeled shoes, a classification of women’s footwear that until now
2013 Nike Free Run Powerlines Negro Hombres Ven y Únete a Nosotros has never been able to be made truly comfortable. This re launch is already generating
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Kenneth describes this product as
2014 Nike Free Run Gimnasio Negro Rojo Hombres Venta Con 70% De Descuento "The most comfortable shoe a woman ever looked good
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Nike Free Run 4.0 2012 Azul Verde Mujeres Nueva Colección Está Disponible in. Guaranteed". If you watch Good Morning America tomorrow, you’ll see Kenneth talking
Nike Run Balanza gratuito 2014 Mujeres Gris Naranja Con Descuento 56% -78% about the shoes and the re launch. This new footwear line is currently exclusive to our own full priced retail stores to enable us to build momentum and drive traffic before we expand into wholesale distribution next year.

We have already pre sold
Nike Free Run Powerlines Ii Verde Blanco Hombres Venta Zapatos Para Hombre several thousand pairs of five limited edition styles
Nike Free Run Powerlines Ii Negro Hombres Luna Venta Aquí Con Alta Calidad at full price, which we believe is unprecedented in this market environment. The shoes
2013 Nike Free Run Powerlines Negro Hombres Envío Libre Con Entrega Rápida will
Nike Free Run Powerlines Ii Naranja Hombres Versión Adecuado Para Usted be available for pickup beginning tomorrow. We expect to sell through
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Nike Free Run 3.0 V7 ​​Azul Negro Mujeres Tenemos El Precio Bajo En Línea at full price.

In terms of our
Nike Free Run 4.0 2012 Negro Rojo Mujeres Con Alta Calidad y Bajo Precio broader product assortment strategy, core product is now 40 to 50% of the mix versus only 20% at this time last year. We are very focused
Nike Free Run Powerlines Rainbow Negro Hombres Para Zapatos Baratos on product that consumers can wear now, is
2012 Nike Free Run 2 Negro Púrpura Mujeres Para Barato Zapatos Para Hombre appropriate for more
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Wmns Nike Free Run 3.0 V5 2014 mujeres negras rojas Con Calidad Auténtico and thus delivers greater value.

We’re excited about the new fall lines and we are
2014 Nike Free Run Gimnasio Negro Blanco Hombres Liquidación Envío Rápido seeing success in
2012 Nike Free Run Tr Fit gris azul de los hombres Nosotros Outlet Store modern wear to work apparel including suits separates for men and dresses for
Nike Free Run Powerlines Ii Men Negro Verde Con Alta Calidad y Bajo Precio women as
Nike Free Run 3.0 V7 ​​Luz Gris mujeres rojas Versión Adecuado Para Usted well as casual fashion such
2013 Nike Free Run Powerlines 2012 Gris Azul Hombres Con Descuento Grande as Denim, Ts and ath
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In
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Nike Run Balanza gratuito 2014 Gris Naranja Mujeres Venta Hombres In particular, we continue to be very
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Nike Free Run Trainer 3.0 Negro Azul Hombres Venta Hombres Running Zapatos our
Nike Free Run Powerlines Ii Verde Negro Hombres Disfrute De Más Descuento women’s
Nike Free Run 3.0 V5 Ext Todos Orange Mujeres Venta Aquí Con Alta Calidad sportswear, men’s tailored clothing, outwear, dress shirts, ties and
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In terms of our
Nike Run Balanza gratuito 2014 Verde Mujeres Orange Con Descuento Grande brand initiatives, our
2012 Nike Free Run 2 Negro Púrpura Mujeres Usted Puede Ahorrar Mucho Aquí fall marketing campaign has
Nike Free Run OG 2014 mujeres rojas de piel Anti- Con Descuento 56% -78% received great feedback. Our marketing more clearly communicates our fashion identity while retaining our
Nike Free Run 2 Gris Azul Mujeres Venta unique social voice. Our goal is to maintain our
Nike Free Run OG 2014 Anti-piel azul claro Mujeres Ven y Únete a Nosotros media presence while reducing our creative expense
Nike Free Run Trainer 3.0 Negro Rojo Hombres Disfrute El Mayor Descuento to generate a greater return on our overall marketing investments. We’ve also embraced social networking and the blogosphere
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Perhaps, our most exciting current initiative is
Wmns Nike Free Run 3.0 V5 2014 mujeres negras rojas Con Descuento 56% -78% the re launch of our Kenneth Cole New York women’s shoes. I hope some of
Nike Free Run 2014 gris rosa claro de la Mujer Aquí Sería Su Mejor Opción you will join us
Nike Free Run 3.0 V5 Ext Gris Rosa Mujeres Nueva Colección Está Disponible tomorrow morning at 9:00 AM for a special event at our
Nike Free Run Powerlines Ii Naranja Hombres Regalo Para Usted o Su Familia Rock Center store. Hundreds of people have told us, they are coming to pick up their shoes and meet Kenneth.

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