Question-and-Answer Session
Operator
Thank you. (Operator Instructions) Your first question comes from David Glick - Buckingham Research Group.
David Glick - Buckingham Research Group
I just wondered if you all could give a little bit of color on how you see the Goody's liquidation playing out in terms of the transfer, when you might start to see a benefit, and how we should think about how much of those sales could possibly transfer.
Ed Record
Sure, David. Goody's actually closed their doors, I think, about two weeks ago, so we're starting to see the benefit now. As you know, they're exiting 91 of the markets we overlap with them in, so overall it's about $220 million worth of sales that's leaving those markets. We've already seen us getting some of that share in the last two weeks and we expect to see it throughout the rest of the year.
In the guidance standpoint we feel we've been relatively conservative in how much we baked in from a transfer percentage.
David Glick - Buckingham Research Group
So you have baked in some of it?
Ed Record
We have. When you look at, you know, we're guiding Q1 down 6% to down 9%, you know, we haven't given Q2 yet, but assume it looks like Q1, to hit the 5% to 8% that would make the fall season down 4% to down 7%. So we have baked some of that improvement in.
David Glick - Buckingham Research Group
Is conservative 5% transfer - 10%?
Ed Record
I think 5% would be conservative. We're hoping to see it clearly north of 5%.
David Glick - Buckingham Research Group
And I know they were very strong in the younger businesses like juniors and young men's. Are you targeting certain areas? Are there brands that maybe you didn't carry that they carried? Or are you just kind of letting the transfer happen and not really changing your assortments?
Andy Hall
Well, David, we're not just going to sit back and let the transfer happen. I think your question is right on the mark. They were strong in juniors and they were strong in the young men's. They knew what they stood for in young men's and juniors; basically it was denim and Ts, and in juniors it was junior tops and denim. So I think that based on the market we will expand our inventory assortments in those areas.
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