Good morning. Joining me and Deb on the call is Scott Goldenberg. Let me begin by saying that I am very pleased with our second quarter results. Consolidated comp store sales were up 3% over a 4% increase last year and above our plan. Once again, customer traffic was the primary driver of our consolidated comp increase. Earnings per share were up $0.85 also above our expectations and merchandise margin was up again this quarter. We believe our second quarter performance demonstrates once again the strength, consistency and flexibility of our off-price business model. We continue to deliver healthy sales and comp increases in a shifting retail landscape with volatility in traditional retail and growth of online in general.

We are particularly pleased with the performance of both our apparel and home categories. Our outstanding values in the collective merchandise mix continue to resonate with consumers and drive shoppers to our stores. We remain convinced that we have been growing our customer base and gaining market share at each of our four major divisions. The customer is clearly telling us that brick-and-mortar retail continues to be an essential part of the shopping experience and certainly when it is executed right with the right values. All of this gives us confidence in our long-term global store growth potential. Across

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