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We have made solid progress in improving the productivity of the store base over the last four years, evidenced by the expansion of our four wall operating margin. With our stores performing well across all regions and with our metrics improving, we believe we're still in the early innings of a rather large, multi year retail growth opportunity..


But, I'm going to go out on a limb here: The new Premium center has a fighting chance of bringing a Saks Fifth Avenue Off Fifth to Hampton Roads. The outlet version of the luxury department store carries prior season and excess end of season merchandise, often marked more than 50 percent off regular retail prices. In the past, we heard rumors that Saks expressed interest in an anchor spot at MacArthur Center, and the retailer could view the discounted prices of an outlet store as a better fit for this market.


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