Operator: Good day, and welcome to the Coach Conference Call. Today's call is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to Senior Vice President of Investor Relations and Corporate Communications at Coach, Ms. Andrea Shaw Resnick. You may begin.
Andrea Shaw Resnick - SVP, IR & Corporate Communications: Good morning, and thank you for joining us. With me today to discuss our quarterly results are Lew Frankfort, Coach's Chairman and CEO; and Jane Nielsen, Coach's CFO. Mike Tucci, North American Group President is also joining us for a holiday preview.
Before we begin, we must point out that this conference call will involve certain forward-looking statements, including projections for our business in the current or future quarters or fiscal years. These statements are based upon a number of continuing assumptions. Future results may differ materially from our current expectations based upon risks and uncertainties, such as expected economic trends or our ability to anticipate consumer preferences. Please refer to our latest Annual Report on Form 10-K for a complete list of these risk factors. Also, please note that the historical growth trends may not be indicative of future growth.
Now, let me outline the speakers and topics for this conference call. Lew Frankfort will provide an overall summary of our first fiscal quarter 2013 results and will also discuss our progress on global initiatives. Mike Tucci will review our key programs to the holiday season. Jane Nielsen will conclude with details on financial and operational highlights for the quarter. Following that, we will hold a question-and-answer session, where we will be joined by Victor Luis, International Group President; and Jerry Stritzke, our President and Chief Operating Officer.
The Q&A session will end shortly before 9.30 am. Lew will then conclude with some brief summary comments.
I'd now like to introduce Lew Frankfort, Coach's Chairman and CEO.
Lew Frankfort - Chairman and CEO: Good morning, thanks Andrea, and welcome, everyone. As noted in our press release, we were pleased with our results this quarter, highlighted by double-digit top line growth, with strong comparable store sales, most notably in North America and China. We continue to make progress against our strategic initiatives, enhancing our leadership position in the North American women's bag and accessory category, through fashion innovation, aggressively growing our international business, becoming a market leader in the Men's accessories category and harnessing the power of the digital world.
In addition, during the quarter, we completed the acquisition of our domestic distributors in Korea and Malaysia, and reflective of our strong balance sheet and positive outlook our Board has just authorized a new $1.5 billion stock repurchase authorization.
While I will get into further detail of our current conditions and the outlook for our business shortly, I did want to take the time to review our quarter first. Some highlights were; first, net sales totaled $1.16 billion versus $1.05 billion a year ago, an increase of 11%. Second, earnings per share totaled $0.77, up 6% from prior year. Third, North American sales increased 8% to $784 million from $729 million last year, with direct sales up 11% on a 5.5% comparable store sales increase. And fourth, international sales increased 15% to $362 million from $314 million last year, driven in part by a nearly 40% gain in sales in China with a continuation of double-digit comps.