Question-and-Answer Session
Operator
(Operator instructions) Your first question comes from Jeff Stein – Soleil Securities.
Jeff Stein – Soleil Securities
Eric, a question on your comments relating to the catalogue, I guess I was a little bit confused, and I was wondering first of all can you differentiate between what’s going on with the catalogue versus the ecommerce site.
You mentioned that you’re getting a roughly 34% penetration at Lane Bryant, I think you were referring to LaneBryant.com and I just want a clarification, are you referring to the fact that roughly one-third of those customers have bought in the stores, is that what you mean?
Eric Specter
Let me just preface this, this was metrics that I was commenting on for the Lane Bryant catalogue. Not to be confused with the Lane Bryant retail business. So our Lane Bryant catalogue business during the first quarter, we saw an ecommerce penetration as compared to the sales that were recorded off of the catalogues that were distributed, we had a 34% ecommerce penetration which was above our plans and a very healthy start considering that our ecommerce site has only been up for five months.
Jeff Stein – Soleil Securities
So in other words, the catalogue is driving people to the website, is that correct?
Eric Specter
That is correct.
Jeff Stein – Soleil Securities
Is it not true though that your merchandise in your catalogue is different from your ecommerce site?
Eric Specter
I think there is a defined LaneBryantCatalogue.com site that is in sync with the paper catalogue in terms of the merchandising offerings. That is completely separate from the LaneBryant.com site that has been operating for a number of years that complements the retail stores. So Jeff when we say there’s a 34% ecommerce penetration, we’re talking about a penetration to the LaneBryantCatalogue.com site.
Jeff Stein – Soleil Securities
Given the fact that you’re putting the assets of most of your direct to consumer businesses up for sale, can you talk a little bit how you intend to service this customer and who you would intend to have oversee this business once the businesses are ultimately disposed of?
Eric Specter
I’ll comment on the fact that we will retain the executives that we had brought in to run Lane Bryant Catalogue as well as have overall responsibility over the other missy apparel catalogue. That individual and the staff that has been put together that is running the Lane Bryant Catalogue will stay in place.
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