J.C. Penney Co Earnings Call Insights: Management Infrastructure and Online Sales Outlook
Charles Grom – Sterne Agee: Mike, I was hoping you could address the management infrastructure that you have around you, where are the holes and when do you expect to make those additions to the team?
Myron E. Ullman, III – Chairman and CEO: We have an executive board, at this time I believe we have 22 on the executive board. We have an interim CIO, which I expect that position to be filled for this fall. We have an interim person in the property development category. The rest are fully employed and very capable and recovery strongly that we have the team that affects with the turnaround.
Charles Grom – Sterne Agee: And then you talked about the comp turn during the quarter getting better, I wonder if you could break that out apparel versus Home for us?
Myron E. Ullman, III – Chairman and CEO: Well clearly the Apparel is much stronger than Home. Home struggled. We expected Home to improve obviously when the new store shops had opened and quite the opposite happened. We actually have less productivity in the new Home Stores than we do in the stores that didn’t get a Home Store. So, merchandising challenge to say the least. Apparel actually, women’s apparel is actually strengthening coming into fall season, so that’s been our largest category were quite positive about Shoes and Women’s Apparel at this point…