Operator: Good day, and welcome to the Signet Jewelers First Quarter Results 2013 Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Tim Jackson. Please go ahead, sir.
Tim Jackson - IR Director: Good morning and welcome. Thank you operator. Welcome to the conference call for Signet's first quarter fiscal 2013 results. This is Tim Jackson, Investor Relations Director talking. With me are Mike Barnes, CEO and Ron Ristau, CFO.
The presentation deck we will be talking to is available from the Webcast section of the Company's website. www.signetjewelers.com.
I will now give the safe harbor statement. During today's presentation, we will in places discuss Signet's business outlook and make certain forward-looking statements. Any statements that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. We urge you to read the risk factors, cautionary language and other disclosures in the Annual Report on Form 10-K that was filed with the SEC on March 22, 2012. We also draw your attention to this slide.
I will now hand over to Mike.
Michael W. Barnes - CEO: Thanks, Tim, and good morning to everyone. We delivered strong financial results in the first quarter and increased our earnings per share by 10.3% to $0.96. We anticipated the impact of the calendar shift as discussed on our last call and managed our business including expenses accordingly leading to this double-digit earnings increase. I'd like to thank all of Signet who contributed to these record results.
In the second quarter today which benefited from the calendar shift our same-store sales including Mother's Day were up strong double-digits reflecting the customer's broad acceptance of our merchandised offerings, our great customer experience and the effectiveness of our advertising, all of which we considered to be core competitive strengths. I'll speak more specifically about Mother's Day in a moment.
Our results year-to-date and our consistent ability to execute our initiatives leave us well positioned to meet the challenges of the current economic environment and achieve our objectives for this year. Same-store sales were up 1.2%. The impact of the calendar shift reduced first quarter sales by an estimated $32 million, or by about 370 basis points.
In the U.S., we delivered same-store sales of 1.2% after an increase of 12.5% last year with the promotional shift having an estimated 440 basis point impact. In the U.K., we're pleased to again report a positive comp and again it was 1.2% and what remains a challenging environment. This reflected as expected a significant improvement from the February performance which we discussed in our last call, income before income taxes was $128.5 million or an increase of 9.1%.
Now let's look at the U.S. performance in a little bit more detail. U.S. total sales were $751.5 million, up $13.5 million, an increase of 1.8%. Kay same-store sales increased by 2.9%. During February, which includes the important Valentine's Day period, same-store sales were up 8.4% with April being adversely impacted by the calendar shift. Jared comps were up 0.2%. Jared also had a similar trading pattern with February comps up 8.1% and April adversely impacted by the calendar shift. Overall, U.S. same-store sales increased 1.2% in the first quarter as we moved into the second quarter including the Mother's Day trading period, we've seen strong double-digit comps, a very strong all-round performance for this major gift giving period for our U.S. division.