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ith John over the last five years as a member of the company's board of directors and I do share his vision for Francesca's. Francesca's has a very strong connection with its target customer and is able to adjust changing market conditions very effectively. I believe that exploiting our core competitive competencies that are inherent in our cheap Michael Kors Jet Set Logo Medium Khaki Totes merchandizing and real estate strategies, as well as selectively further leveraging the Francesca's brand, will drive our strategy in the near term.Building on our domestic presence is our higher cheap Michael Kors Logo Monogram Medium Pink Totes priority. Moving from today's base of 357 boutiques to a market potential of 900. I also believe there are tremendous market share to be gained in the digital sales channel. Our volume of visits in the digits channel, cheap Michael Kors Jet Set Logo Travel Large Coffee Totes while approximately less than 2% penetrated today, is growing at a three year compounded annual growth rate of 60%. Achieving penetration rates in excess of 10% are in my forward view.Lastly, I want to say that I am fortunate to be able to partner with Theresa in her role as President, as well as the current senior leadership team at Francesca's. They and their teams are clearly the drivers of results that cheap Michael cheap Michael Kors Logo Signature Large Black Totes Kors Logo Large Khaki Totes we are reporting today and that will drive our future opportunities. I will turn the call back now to John for the second quarter.Tha
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