Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Martin Landry - Desjardins Securities
Martin Landry - Desjardins Securities
Can you give us a little more details with regards to the change over in private label brands, did you lose market share at that retailer.
Glenn Chamandy
No what happened is, every time you change over a program in retail you have to reset the stores so the stores have to wind down their old branded inventory and then replace that with the new updated merchandise and during that transition they bring inventories down and then they bring inventories up and that was really the reason for the decline in inventory.
Also the fact that retailers, this back to school, are managing their inventories a little bit closer and that was also a factor in terms of bringing down inventories in the retail channel.
Laurence Sellyn
So the change in our sales was because of inventory changing to the retailer level. Point of sale data for sales from retailers to consumers was up.
Martin Landry - Desjardins Securities
Given now that we’re already mid way through Q4, I was wondering how much down time do you have planned for Q4.
Glenn Chamandy
Similar to Q3.
Martin Landry - Desjardins Securities
If I remember well, you only took one week in Q3.
Glenn Chamandy
No we took roughly about 16 days in Q3.
Laurence Sellyn
In Honduras, a little less and less then that in DR.
Martin Landry - Desjardins Securities
And did you win any retail programs during the quarter.
Laurence Sellyn
As we said we’re actively working on new retail programs which we’re expecting to have a meaningful impact in our sales growth in 2010 compared to 2009.
Operator
Your next question comes from the line of Jessy Hayem - TD Newcrest
Jessy Hayem - TD Newcrest
I just want a bit of a clarification on the sock volume drop, you mentioned in total I think 3.5 million dozens, you have the extra week that was a million, discontinued sock lines two million dozens and then the rest was the timing impact, is that correct?
Laurence Sellyn
I said a million dozens for the extra week, two million for impact of discontinued programs and about 1.5 related to the difference between replenishment last year and de-stocking this year.
Jessy Hayem - TD Newcrest
Okay so it was really all volume, there was no pricing whatsoever drop in the quarter.
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