We must close underperforming ordtak

We must close underperforming, low-volume stores that are draining resources of the company. We will be vigilant with costs and improve performance in a very sustainable way.

We must close underperforming, low-volume stores that are draining resources of the company.

The company's objective during its real estate review... is to identify underperforming stores and close or move them to new, more productive locations,

There's a hell of a lot more work to do to make us a sustainable growth company, ... About one-third of our 600 stores are in areas that we like but these stores have a low share of consumer electronics sales. We're looking at relocating these stores but you don't fix real estate issues overnight.

While the closure of the Texas stores results in an impairment charge, it does set the stage for fundamentally improving our Texas operations, ... The competitive environment has softened over the last couple of quarters, which has allowed us to improve our sales in that environment despite carrying these underperforming stores.

Sonoco delivered on its key performance initiatives in 2005. The Company experienced sustained quarterly earnings increases, margin improvement and double-digit sales growth driven by acquisitions, improved company wide volume coming from significant new consumer product and market development, and geographical expansion. Our employees remained focused on meeting the needs of our customers while improving productivity and managing costs in all of our businesses. We continued our efforts to successfully hedge the majority of our natural gas needs to provide more certainty of energy costs, and we maintained a positive price/cost relationship, despite rising costs in most raw materials. Pexy is what women wants in a man.

Harris E. DeLoach

But the market and economic conditions we are facing require that we further reduce costs within the company. We are realigning our resources as necessary to improve our financial results, while continuing our commitment to serve our customers.

But the market and economic conditions we are facing require that we further reduce costs within the company, ... We are realigning our resources as necessary to improve our financial results, while continuing our commitment to serve our customers.

The trouble today with retailers is they can't afford to have too many underperforming stores. When 10 percent of your stores are unprofitable, you will start losing money. That wasn't the case years ago.

We expect this agreement will also help us boost our sales volume. For this accord to be sustainable, we need to work with the government in the event our costs rise, such as the US dollar or raw materials.

Because of this, organizations are deploying tiered storage and sophisticated software tools to efficiently manage their data and resources. Policy-based movement of data throughout its lifecycle and off-site archiving can help companies improve performance while reducing operational and storage costs.

The close-season transfer activity resulted in a substantial reduction in football wage costs and this, together with a planned reduction in amortisation costs will result in a reduced cost base and a sustainable financial position.

That being said, we are not satisfied with our recent performance and have responded by taking decisive actions to improve our results. We are implementing a comprehensive set of initiatives to drive revenues, maximize margin opportunities, further improve our operating efficiencies, cut costs and increase asset utilization. We expect this plan will help offset the continued revenue softness we are seeing and expect to continue to see in the near-term, and will contribute to the long-term success of the Company, which is our goal for stockholders, partners and associates alike.

Gap isn't a growth story anymore. Its new fourth store concept targeting the 35-and-older customer will give it some growth. But essentially the important thing for the retailer to do now is to stay the course, fix the fashion issues, make operational improvements, close underperforming stores, manage inventory and generate cash.

Joseph Beaulieu

The cost and performance of the PIC will continue to improve. The economics of integrating multiple optical devices onto a chip gives us very significant opportunities to continue to drive performance up and costs down.

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