Penn State study, page-2

low operating costs with increasing revenue is key for this one since gross margins are 53-55 percent closure of south africa stores and usa stores with macys n others taken over as the distributor both in store n online and having its own online store plus the push of online exclusives in aus with goals of replication in europe n beyond i think thats the real way they will do well cause they will have a fixed cost system rather than a variable cost system.